Page 13 - YBA Kanoo Code of Conduct English & Arabic

5. POLICIES AND PROCEDURES INCLUDING
DELEGATION OF AUTHORITY

Policies and Procedures are used in the Company to describe the Company's policies for
operations and the procedures necessary to fulfill the work from a Company level. The
Company has internal policies and procedures as a guideline to day to day work actions.
These are designed to inform the employees regarding specific actions in response to
specific events.

The Company’s standard operating procedures (SOP) are designed at board level and
individual managers outline the applicable policies and procedures at each Company
level. These policies and procedures are then communicated to employees affected by
them to enable them to perform their specific duties.

Policies and procedures can also be considered in the same maner as this Code of
Conduct as they aim to effectively communicate the Company’s expectations from its
individual employees. All Company employees are expected to be familiar with and
comply fully with the policies and procedures and guidelines to work at their individual
jobs.

The Company regularly updates these policies and procedures at division specific levels
according to changing business environments to adjust to new developments in the local
& international markets.

Delegation of Authority is when the Company’s management provides certain managers
and supervisiors with Authority to undertake specific jobs. This decentralisation enables
senior managers to undertake more important engagements with the Company’s
Principals and Suppliers. This delegation of authority comes with specific Powers to
enable the Company’s managers to perform these jobs effectively and efficiently.

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