The Protocol Division is responsible for the overall coordination of meetings, and organizations in which the Chairman of ALFURQAN or any of his representatives is involved and invited as well as the logistical coordination of protocol services and event management.

This includes conducting the necessary arrangements to represent the Chairman at the national and international platforms in line with the protocol, the coordination of the official relations of our company, and the coordination of the official organizations to which the ALFURQAN Executive members are invited.

The Protocol division’s responsibilities also include drafting statements, letters and protocol messages, preparing documents and presentations upon request of the Chairman.

Global risk experiences in recent and previous years have made effective risk management mechanisms crucial. Long-term success goals around sustainable growth and profitability along with increasing regulatory requirements have made it essential for companies to employ robust risk management and internal control systems.

AL FURQAN with diverse business operations experience in different regions and countries, is cognizant of its need to monitor and manage various risks, including financial, strategic, business, and operational risks. Risk division meetings are held regularly through conference calls. These meetings generate valuable and relevant risk information, which is discussed and escalated when necessary.

The division is responsible for the relations with local and foreign financial institutions, to meet the financing needs at the company level and to allocate the cash in possession. The division’s responsibilities include corporate treasury functions and cash management, executing corporate financing and project financing deals of the company, monitoring the financial performance of the company and estimating cash flow and capital requirements, relations with rating companies and management of rating process, monitoring the global and domestic capital markets, detecting the risks and taking necessary actions for mitigation.

The division’s main responsibility is to seek and provide assurance that the risks and opportunities across the company’s approaches are identified and risk topics are properly measured, managed, and actioned upon to ensure the shareholder value is sustained. Risks monitored by the division include financial, strategic, business, and operational risks as well as emerging ones.  

The division works closely with other divisions and their respective finance, sales, operations, and other executive functions as well as the risk management tasks to evaluate necessary risk intelligence and their due consideration in the decision making processes. The division is also responsible for the oversight and strategy for risk retention and transfers through the design and procurement of corporate insurance cover with relevant insurance policies. Following risk management guidelines, the division regularly prepares risk reports, facilitates risk-based discussions in management meetings, and makes recommendations to the CEO, Risk & Audit Committee, and the Board of Directors. 

Global and local risk experiences in recent years have made effective risk management mechanisms crucial. Long-term success goals around sustainable growth and profitability along with increasing regulatory requirements have made it essential for companies to employ robust risk management and internal control systems. ALFURQAN, with diverse business operations in different regions and countries, is cognizant of its need to monitor and manage various risks, including financial, strategic, business, and operational risks.

Risk Committee meetings are held regularly in the company divisions and these meetings generate valuable and relevant risk information, which is discussed and escalated when necessary.

The Financial and Risk Management Division of ALFURQAN works closely with the sector Risk Management departments to strengthen risk culture and penetrate risk management activities across the company and to obtain and generate sound, timely risk intelligence into its decision-making processes. Holding Risk Management Committee provides policies, guidance, and know-how to raises company-wide awareness for different types of risks via periodical risk roundtables, workshops, and dashboards and reports it facilitates/generates.

The Division is also responsible for the oversight and strategy of risk retention and transfers through the design and procurement of insurance programs. The Board of Directors at ALFURQAN oversees the risk management and internal audit activities and their effectiveness. The Risk and Audit Committees meetings of ALFURQAN are held regularly. Also, every major sector has its own Risk and Audit Committee. These Committees, which function under the respective Board of Directors, are also responsible for assessing risks and proposing appropriate solutions aligned with the company’s risk appetite. The internal Audit committee of ALFURQAN contributes to the long-term success of ALFURQAN by promoting an effective framework of controls by performing the following functions:

• Assessing and reporting to company audit and risk divisions and management as appropriate, on the effectiveness of the design and operation of the framework of controls.
• The Internal Audit Committee of ALFURQAN is responsible for performing financial and operational (process) audits at our company following its annual risk-based audit plan. The Division operates with a risk-based approach, tracking all internal audit findings and coordinating follow-ups to ascertain that appropriate action is taken. Results are periodically reported to the FRMD and Audit Committee of ALFURQAN, which in turn monitors and reviews the scope, extent, and effectiveness of the activity of the Internal Audit Department. The Internal Audit team consists of qualified professionals in different audit disciplines with relevant experience in the business processes that are under review.
• The Internal Audit Committee of ALFURQAN works closely with other divisions to improve the effectiveness of control environments within the company divisions. 
  
  

Risk Management related responsibilities include:

• Reviewing the design, completeness, and effectiveness of the risk management framework relative to the company sectors activities; reviewing the adequacy and quality of the risk management function; reviewing the effectiveness of risk reporting (including timeliness and risk events),
• Reviewing regular information flow from the company sectors and evaluating risk information as well as company strategies, business plans, budgets, and investments,
• Reviewing management’s view of emerging and potential risks, and reviewing the management actions, if any, required in response to changes in the risk profile and emerging or potential risks,
• Reviewing the company’s risk levels to ensure that they are in line with shareholder risk preferences;
• Guiding ALFURQAN’s Risk Management Division.

The Investments Division is responsible for business development activities in new sectors and in those sectors in which ALFURQAN already operates. It evaluates domestic and regional investment opportunities that are in line with the company’s strategy and developments in the global economy.

The Division’s responsibilities include providing a thorough analysis of business opportunities and undertaking M&A activities of the company for the projects approved by the company’s Board of Directors. The division is also responsible for monitoring projects after a successful initiation to ensure timely and efficient returns.

The human resources division is responsible for the management of ALFURQAN human resources processes in line with corporate values and long-term strategies. The division aims to create a common language for human resources policies among the company divisions.

The main goals of the HRD are attracting and recruiting talented individuals; investing in and creating a well-educated, innovative, ethical and sensitive workforce; developing employees’ careers based on the future needs of the company; enhancing practices within the company through assignments, transfers, and rotation program for employee and corporation development; establishing competitive reward and recognition systems and increasing employee motivation and commitment.

The division also provides strategic and operational human resources policies among the other ALFURQAN companies and ensures an environment suitable for lifelong learning.

The other functions of the division with the leadership of ALFURQAN Chairman HH Abdullah Zayed Saqr Al Nahyan, and CEO Mr. Mahmuod Aliessa, ALFURQAN HRD aims to improve women’s employment within the company.

The other functions of the division are implementing organizational development policies, career planning, compensation, benefits, and performance management for ALFURQAN.

The division main responsibilities can be summarized as follow:

• Develops human resources policies and practices in line with the company’s strategy and objectives,
• Shares know-how about the best practices within the company
• Sets up working groups to address the issues on the agenda of the company,
• Shares information on potential candidates, succession, and career planning within ALFURQAN,
• Develops joint projects to boost employee engagement.

The Corporate Communications Division is responsible for ALFURQAN’s reputation management through the means of strategic communication tools, media relations, social responsibility projects, and sponsorship activities.

The Division is also responsible for the coordination of the internal communications among our divisions and the company’s external communication tools including the annual report, corporate responsibility report, and the corporate website.

The Legal Affairs Division is responsible for the legal representation of ALFURQAN and for ensuring that all kinds of contracts, legal processes, and counselling services are handled in line with the company’s best interests and with no legal risk. Furthermore, we would like to say that our law consultant is “Seddons Solicitors”, UK.