Corporate Governance
MBME Group is committed to adopting and complying With best-in-class corporate governance practices being fundamental to creating an ethical and professional culture, long term sustainable shareholder value, and informed stakeholder engagement.
The Board of Directors and Executive Management Are committed to the highest standards of corporate governance, based on global and industry best practice. The role of corporate governance is to define the overarching rules and mechanism that directs and controls the way MBME operates:
Board and related Committees
Responsible to set ethical and risk-based control standards and monitor the strategy implementation meeting shareholder's needs and requirements .
Management, Monitoring and Reporting
Of key activities by defining charters, committees, onboarding fit and proper senior personnels, delegating authorities, regulatory aligned controls and Performance measurements with periodic monitoring and reporting made to Senior Management
Shareholders Management
Ensure transparency and communication with shareholders is being maintained .
Systems, Policies & Procedures
Adopting proper and effective control environment
Rules and regulations
Conforming to related regulations and best practices.
Our corporate governance framework and supporting policies are guided by best international and regional practices that combine strong leadership, accountability, transparency with a culture of integrity.
The Framework is aligned with the group’s strategic objectives, built on a strong code of ethics culture and reflects laws related to Commercial Companies and regulatory guidelines mainly those under Ministry of Economy and ADX for Private Joint stock companies as well as others as applicable.
Board and related committees are governed by Board Committees, qualified members (executive, non-executive and independent), with adequate compositions, continuous assessment, periodic nominations and training aimed in discharging their responsibilities in an objective and independent manner free from any type of conflict of interests.
MBME is delegated by the Board to ensure it maintains a Robust and sound internal control systems. The group follows the globally recognized and accepted 3-Line of defense model, whereby control functions within the 2nd line (ie Risk, Compliance and Legal) perform advisory and ongoing monitoring of business controls and systems with Independent assurance from Internal Audit as the 3rd line of defense.
MBME provides competitive remunerations benchmarked against the market. It also offers discretionary compensations linked to performance at a divisional and individual level in line with group’s stated values.
MBME is subject to regulatory oversight from different key ministries, government departments and regulatory authorities, primarily those governed by Department of Economic Development (Abu Dhabi and Dubai), Ministry of Economy, and ADX.
MBME meets a range of regulatory disclosure requirements, ie disclosures to the Abu Dhabi Stock Exchange (ADX) and other online reports published on the group website that provides beneficial information and complete transparency of the group’s activities to relevant stakeholders and investors.
Board Committee
Overseeing, counselling, and directing the senior executives to ensure MBME’s interests and its shareholders are being served by:
Acting in good faith with due diligence and care
Fulfilling their governance responsibilities in line with the Company’s Articles of Association in alignment with Ministry of Economy (“MOE”) & Abu Dhabi Securities Exchange (“ADX”) regulations for listed private joint stock entities.
Promoting the right code of conduct culture with appropriate and effective governance processes
Transparent communication exist between the Company and its stakeholders
Board Sub-Committees
a) Board Nomination and Remuneration Committee
Support the Board in governing the following:
Processing the appointment of the Board Members and assess their performance,
Endorsing the appointment and discharging the responsibilities of the Executive Committee members
Executing the appointment and succession planning of the Senior Executive Management
Determining the Board’s responsibilities in relation to setting, recommending, and monitoring the level of remuneration of the Board members and senior Executive Management ensuring fair, reasonable and adequate benefits and in line with the Company’s performance.
b) Board Audit Committee
Assist the Board in overseeing the following matters:
Integrity over the Company's financial reporting and disclosure process.
Operations and activities of the External Auditors, internal auditors, and internal finance departments of the Company.
Internal control, risk management and governance systems.
Compliance with the applicable laws and regulations,and effectiveness and independence of internal audit.
Environmental Social and Corporate Governance (ESG)
As a leading player in the Fintech market, we diligently pursue new opportunities, adeptly manage our risks, and balance the needs of the communities we serve.
MBME Group’s ESG strategy commits to aligning its governance model with the UAE’s Economic and Environmental 2030 - 2050 vision.
As our business is centered on investing in advanced technologies, we are dedicated to integrating eco-friendly and sustainable systems into our operations, financing sustainable projects, transitioning to a low-carbon future and Net Zero greenhouse emissions by 2050, and generating a positive social impact
With a customer-centricity framework, MBME Group is staunch with its underlying value system. It strives to accomplish its mission and vision while maintaining and committing to innovation, excellence, and sustainability. While MBME Group strives to be at the forefront of payment and digital solutions, it also focuses on integrating its operations into sustainable, environmentally friendly projects that contribute to the country’s socio-economic stability and development.
Key Initiatives
Abu Dhabi Chamber of Commerce Sustainability Initiative – aims to provide digital solutions, innovative technology services and sustainability-focused API’s such as: EcoMatcher features, which aligns with sustainability goals by enabling the private sector to engage in eco-friendly initiatives for tree-planting and carbon-offsetting capabilities
Investor Relations
Investor Relations is a key element of MBME group’s governance principles aimed at providing investors with an accurate information on the company affairs as well as updates and trends on related markets. This helps investors make informed decisions on MBME in terms of its performance, strategy and outlook.
Key Information on MBME Group's ADX Listing
News and Disclosures
General Assembly Meetings
April 04,2024
The first annual general assembly meeting of MBME Group P.J.S.C. took place where the overall 2023 company’s performance were discussed and year-end financials signed off along with discussing the projected 2024 budget and group’s strategy and objectives and other key matters.