| Element List | Explanation |
|---|---|
| Introduction | AL-Sagr insurance Co announces the issuance of the board of directors’ resolution by way of circulation dated 02/04/1447H (corresponding to 24/09/2025G), to appoint Mr. Naif Rashid Al-Arfaj. As an independent member of the Board of Directors for the remainder of the current board of directors’ term ending on 22/11/2026G. |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Naif Rashid Al-Arfaj |
| Membership Type | Independent |
| Membership Start Date | 2025-11-20 Corresponding to 1447-05-29 |
| Brief Resume of the Appointed Member | An executive leader and board member with over ten years of experience in Governance, Risk, and Compliance (GRC), specializing in developing governance operating models across government entities and the financial sector. He currently serves as the Director General of Governance, Risk, and Compliance at the Ministry of Sports, overseeing both institutional and sectoral compliance and risk mandates. He previously held key leadership roles, including Director General of the Office of His Excellency the President and Chief of Staff at the General Court of Audit, in addition to supervising the Governance, Risk, and Compliance Office. Throughout his career, he has led the establishment of specialized GRC units, implemented strategic projects to enhance compliance, transparency, and business continuity, and developed regulatory and operational frameworks aligned with international best practices and Saudi Vision 2030. He has also served as Vice Chairman of the Board, Chairman of the Risk Committee, and a member of the Nomination and Remuneration Committee at Al Sagr Cooperative Insurance Company, contributing to the advancement of governance standards within the financial and insurance sectors. He holds an M.Sc. in Finance from the University of Tampa (USA) and is a PhD researcher at University Islam Malaysia (USIM). He also holds several international professional certifications in governance, risk, and compliance, including CFE, CAMS, GRCA, GRCP, PMP, and RMP |
| The date of the approval by other official authorities | The Insurance Authority’s non-objection was obtained on 29/05/1447H. corresponding to 20/11/2025G |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-09-24 Corresponding to 1447-04-02 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
