SECTION 07 pg. 196 AL-SALĀM REIT Board Level The BARC leads the review of the organisation’s overall risk profile, internal control effectiveness, and audit findings to ensure that financial, operational, and compliance risks are adequately managed. The BARC members are: • Abdullah bin Abu Samah – Chairman (Independent Non Executive) • Datuk Sr Akmal bin Ahmad – Member (Non Independent Non Executive) • Ong Li Lee – Member (Independent Non Executive) The BIC evaluates investment proposals and capital allocation decisions, ensuring that market, financial, and valuation risks are assessed and aligned with the organisation’s risk appetite. The BNRC manages leadership and people-related risks by ensuring board and management competency, effective succession planning, and remuneration structures that support sustainable, risk-aligned performance. The BSC oversees climate, environmental, social, and governance risks, ensuring that sustainability considerations, including climate-related risks, are integrated into strategic decision-making and regulatory reporting. Collectively, these committees enable comprehensive and effective oversight of strategic, financial, operational, and sustainability-related risks across the organisation. Together, these Board Committees ensure comprehensive oversight of strategic, financial, operational, sustainability, and governance risks, enabling a balanced and effective risk management ecosystem across the organisation. MANAGEMENT-LEVEL GOVERNANCE AND OVERSIGHT COMMITTEES Segregation of Duties and Internal Controls: The CEO provides overall leadership, with distinct reporting lines to the COO, CFO, CIO, Head of Strategy & IR, Compliance Officer, and Head of Governance & Legal, ensuring proper segregation of duties and effective oversight across all key functions. Governance controls including Fit & Proper assessments for Board members and key personnel reinforce integrity and competency requirements. Detailed SOPs define roles and responsibilities for finance, property management, and compliance processes, while independent internal audits periodically evaluate control effectiveness and adherence to segregation of duties. Collectively, these mechanisms strengthen accountability, minimise control override risks, and support transparent and well-governed operations. The CEO is supported by four key Management Committees in ensuring that both risk management and internal control processes are consistently implemented and continuously improved 1. Management Committee 2. Management Investment Committee 3. Enterprise Risk Management Committee (ERMC) 4. Sustainability Management Committee (SMC) STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL
RkJQdWJsaXNoZXIy NDgzMzc=