Law of Small and Medium Enterprises Bank

1. The Board shall convene upon a call by the Chairman once every three months, and whenever the need arises at the Chairman’s discretion or if requested by at least three Board members. 2. A Board meeting shall be deemed valid only if attended by the majority of its members, including the Chairman or the Vice-Chairman. Board decisions shall be passed by the majority vote of attending members. In case of a tie, the meeting chairman shall have the casting vote. 3. The invitation to Board meetings shall be sent to Board members at least seven days prior to the date of the meeting, and it may be sent by e-mail or other electronic means. 4. The Chairman, or Vice-Chairman, may invite any person he deems appropriate to attend Board meetings, in a non-voting capacity, to provide information, opinions, or clarifications. 5. A Board member may not abstain from voting, nor vote by proxy. 6. A Board decision may be passed by circulation, provided that all Board members agree to the decision in writing. Such decision shall be presented to the Board in the subsequent meeting and recorded in the meeting minutes. 7. Board deliberations and decisions shall be recorded in minutes signed by the meeting chairman and attending members. 8. Board meetings shall be held at the Bank’s headquarters, and may, when necessary, be held elsewhere in the Kingdom. 9. A Board member may not disclose any confidential information relating to the Bank he becomes privy to during his membership. 10. The Board shall set rules and procedures for holding its meetings remotely, including procedures for calling for and conducting meetings.