RISK AND COMPLIANCE
We are an accountable investor. We take responsibility for our decisions and continually strive to improve our performance. This cannot be achieved without the support of our experienced legal, risk and compliance team. The team provides the company with the expertise required to service its needs, to achieve its objectives and maintain its obligations towards the Government and its sovereign wealth fund status.
Improving a culture of empowerment and responsibility is key to our activities. By doing this, we will ensure that we continue to meet our goal to grow the wealth of the country. In fact, we are proud to have a specialised team with the expertise to meet most of our company’s legal and risk needs in-house, therefore reducing Mumtalakat’s reliance on external counsel and other consultants and related costs and overheads.
Key milestones in 2016:
In line with our mandate, we continued to support the investment team in mitigating the company’s risks when sourcing and finalising new transactions, completing a number of international acquisitions in 2016. Our team also continued to monitor the legal and risk requirements of our current portfolio.
The success of our staff reflects the calibre, professionalism and expertise of our team. In fact, in October 2016, our legal team was recognised as one of the top 100 in-house legal teams in the Middle East by Legal 500 GC Powerlist. The GC Powerlist is a series of publications, highlighting the most influential in-house lawyers in business today. The legal team’s nomination and inclusion was based on peer nominations from law firms and attorneys across the world.
Our legal team was also featured as a finalist in The Oath Middle East Legal Awards under the categories of Legal Team of the Year and General Counsel of the Year.
These achievements would not have been possible without an efficient employee development plan and targeted legal and risk education programme. These ongoing programmes are specifically tailored to Mumtalakat’s business activities, projected investment jurisdictions and business requirements.