SSIF holds corporate governance workshop to develop board members' capacity

The Social Security Investment Fund (SSIF) on Saturday held a workshop for Social Security Corporation (SSC) representatives tackling corporate governance. 
The workshop addressed key aspects pertaining to the implementation of corporate governance systems at public and private joint-stock companies, and the representatives’ role in problem solving, according to a statement from the SSIF. 
“This workshop comes in alignment with the SSIF’s efforts to entrench the concept of governance for representatives at companies’ board of directors,” CEO Kholoud Saqqaf said. 
She highlighted the benefits of governance systems in providing information and facilitating follow-up measures, which would guarantee the efficient participation of representatives in the decision-making process. 
“Companies’ boards of directors and SSC representatives [on those boards] are required to monitor the performance of institutions, and maintain investment revenue and stakeholders’ rights according to clear criteria, which account for investment risks,” she added. 
Saqqaf explained that Saturday’s workshop aims to complement another SSIF workshop held in March, noting that the fund has also published a guidebook for representatives on various companies’ boards of directors. 
 The guide sets a general framework under which candidates are appointed as representatives at a company’s board of directors. The guide also regulates the process of managing and monitoring the performance of representatives, in addition to mandating the scope of their role. 
The workshop is part of a comprehensive programme to enhance representatives’ abilities and performance in accordance with international best practices in the field of corporate governance. 
The SSC is a stakeholder in 88 public and private joint-stock companies operating within a number of vital sectors that include banking, mining and energy and tourism.