Salahaddin has invested in its own development by ensuring that the company adheres to international best practices. In 2017, Salahaddin became the first company in Iraq to be fully recognized by the International Financial Corporation of the World Bank for Excellent Corporate Governance.
The purpose of this is to improve and systematize our company's governance, make it more transparent and demonstrate our company's commitment to good corporate governance by developing and furthering:
1) Responsible, accountable and value-based management
2) Effective oversight and executive bodies that act in the best interests of the company and its shareholders, including minority shareholders, and seek to enhance shareholder value in a sustainable manner and
3) Appropriate information disclosure and transparency, as well as an effective system of risk management and internal control.
The company's corporate governance framework is based on the following principles:
This Code establishes our accountability to all shareholders and guides the board in setting strategy, and guiding and monitoring the company's management.
We obligate ourselves to protect shareholder rights and ensure the equitable treatment of all shareholders, including minority [and foreign] shareholders. All shareholders are granted effective redress for violation of their rights through the board.
Salahaddin ensures that timely and accurate disclosure is made on all material matters regarding the corporation, including the financial situation, performance, ownership and governance of the company, in a manner easily accessible to interested parties.
Our company recognizes the rights of other stakeholders as established by laws and regulations, and encourages co-operation between the company and stakeholders in creating sustainable and financially sound enterprises.