Al Faleh Educational Holding Q.P.S.C. convened on the 18th of August 2022 their 6th Board Meeting for the financial year 2022

On Thursday, August 18, 2022, the Board of Directors of Al Faleh Educational Holding Q.P.S.C. met under the chairmanship of Dr. Sheikha Aisha Faleh Al Thani, Chairperson of the Board of Directors, and was attended by all Board members.

During the meeting, the Chairman of the Audit and Risk Committee presented to the Board the result of the previous Committee meeting. Moreover, the Board has approved a number of Governance policies and charters in line with its annual review, following the recommendation and endorsement of its respective Board Committees, in line with the QFMA’s Governance Code for Companies & Legal Entities Listed on the Main Market for additional level of transparency with shareholders. The policies including, the Corporate Governance Charter/Manual, Board Charter, Dividend Policy, Audit and Risk Committee Charter, and Nomination and Remuneration Charter, will be made available to the Investors and potential investors on the Company’s website.

The Board of Directors also approved the Company’s organizational structure based on the recommendation of the Nomination and Remuneration Committee, which is aligned with the growth and expansion plans of the Company’s operations. Furthermore, the Board has approved the Company’s Policies and Procedures effective 21-August- 2022, where the policies are to be assessed and reviewed by the respective head of department on an annual basis. The Board was presented with the Internal Control Over Financial Reporting (ICOFR) progress and was informed that it is in the final stages of procedures, and the Company is scheduled to prepare its report on the internal controls.

In line with the Corporate Governance Code issued by QFMA, the Board of Directors completed their training that was scheduled for this year. The Chief Financial Officer has presented to the Board of Directors the Budget for the Fiscal Year 2022/23, and the financial/operational key inputs that were taken into consideration.

During the meeting, the Senior Executive Management presented to the Board members the business developments, and preparations for Doha Academy Schools and AFG College to welcome the new academic year, Sheikha Aisha commented: “We expect the number of students in schools to increase by 12% and the university by 15%, which will reflect positively on the company’s profits”.

The board meeting was concluded with the above findings and decisions.