Law of Small and Medium Enterprises Bank

The Bank shall have a CEO whose appointment and dismissal shall be pursuant to a Board decision. Said decision shall become effective upon the approval of the NDF’s Board of Directors, and shall determine the CEO’s Law of Small and Medium Enterprises Bank remuneration and other financial benefits. The CEO shall be in charge of the management of the Bank and the conduct of its affairs within the limits of this Law and pursuant to Board decisions. He shall, in particular, have the following powers: 1. Overseeing the implementation of Board decisions. 2. Proposing policies and strategies relating to the Bank’s activity as well as the plans, programs, and projects necessary for their implementation, and submitting the same to the Board for approval. 3. Proposing the Bank’s organizational structure, administrative and financial regulations, and the bylaws necessary for conducting its affairs; submitting the same to the Board; and overseeing their implementation upon approval. 4. Overseeing the Bank’s operations and the performance of its personnel, according to the powers assigned thereto and the Bank's bylaws. 5. Issuing payment orders for the Bank's expenses in accordance with its financial regulations. 6. Overseeing the preparation of periodic progress reports on the Bank's business, achievements, and activities as well as any challenges encountered thereby, and submitting the same to the Board for necessary action. 7. Signing agreements and contracts upon the Board’s approval, or as authorized by the Board. 8. Appointing and supervising the Bank’s personnel in accordance with the powers assigned thereto and relevant laws and regulations. 9. Hiring experts, specialists, and consultants in areas relevant to the Bank's business, in accordance with the powers assigned thereto by the Board. 10. Submitting proposals and recommendations to the Board regarding issues within his powers. 11. Proposing services that may be provided and the fees therefor, and submitting the same to the Board for approval. 12. Overseeing the preparation of the Bank's key performance indicators, and submitting the same to the Board for approval. 13. Representing the Bank before the judiciary, government agencies, other relevant institutions and bodies, and any entities within the Kingdom or abroad; he may delegate such power to others. 14. Any power assigned to him by the Board. The CEO may delegate some of his powers to other Bank personnel.