Details of the disclosure of the sums obtained by the five convicted officials in Mobily during their work at the company

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A report published by the economic website “Mal” revealed that the total sums obtained by Khaled Al-Kaf and 4 of Mobily’s top executives amounted to about 350 million riyals during the period from 2008 to 2014, including 67 million salaries and about 302 million riyals bonuses, allowances and incentive plans obtained by the management Executive.

In contrast, the fines imposed by the General Secretariat of the Committees for Resolution of Securities Disputes amounted to 1.86 million riyals.
According to the statistics, the amounts disbursed during the year 2013, amounting to 72.1 million riyals, came to be the highest in the history of the company, but in the Saudi financial market, before the issue of the company’s financial statements during the year 2014 was raised, as the Board of Directors decided not to pay any bonuses for the year 2014. Salaries and incentive plans for senior executives amounted to 29.3 million riyals.
Over the years prior to 2014, Mobily remained at the forefront of the most generous companies towards its top executives in terms of the total amounts they obtain from all the companies listed on the Saudi Stock Exchange “Tadawul”.
While the decision of the Appeal Committee in Securities Disputes includes the imposition of a number of penalties for violators; And according to the following details:

First: Badr bin Saleh bin Hamoud Al-Tarifi:

Imposing a fine of (300,000) three hundred thousand riyals.

Preventing him from managing portfolios and working as an investment advisor for a period of (7) years.

Preventing him from working in companies whose shares are traded in the financial market for a period of (7) years.

Second: Muhammad Hefni Mahmoud Thabet:

Imposing a fine of (120,000) one hundred twenty thousand riyals.

Preventing him from managing portfolios and working as an investment advisor for a period of (3) years.

Preventing him from working in companies whose shares are traded in the financial market for a period of (3) years.

Third: Khalid bin Omar bin Mohsen Al-Kaf:

Imposing a fine of (600,000) six hundred thousand riyals.

Preventing him from managing portfolios and working as an investment advisor for a period of (7) years.

Preventing him from working in companies whose shares are traded in the financial market for a period of (7) years.

Fourth: Thamer bin Muhammad bin Abdullah Al Hosani:

Imposing a fine of (600,000) six hundred thousand riyals.

Preventing him from managing portfolios and working as an investment advisor for a period of (7) years.

Preventing him from working in companies whose shares are traded in the financial market for a period of (7) years.

Fifthly: Ahmed Hussein Ali Abdul Nabi:

Imposing a fine of (240,000) two hundred forty thousand riyals.

Preventing him from managing portfolios and working as an investment advisor for a period of (5) years.

Preventing him from working in companies whose shares are traded in the financial market for a period of (5) years.

It is noteworthy that Etihad Etisalat Company (Mobily) had announced in a statement the exemption of Eng. Khaled Omar Al Kaf from his position as Managing Director and Chief Executive Officer of the company as of 2/24/2015 AD, with the company preserving its right to refer to him, noting that Eng. Khaled Omar Al Kaf submitted his letter of resignation. The Council on 2/21/2015 AD. And after reviewing the report of the commissioned audit committee. This was after a previous decision in late November 2014 to stop the hand of “CAF”, as of November 21, 2014, until the review committee finishes its work and submits its report to the Board of Directors.





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