About

The legal function at SASREF consists of three staff including general legal counsel Ahmad Zaky Ismail, who leads the team, as well as legal counsel Omar Al-Ghamdi and one compliance analyst. Over the last two years the legal team has adapted to structural change within the company in the form of new departments, compliance responsibilities and practises. In 2017, the most significant corporate milestone achieved by the team was the approval of the SASREF’s new articles of association to be in compliance with company law in the Kingdom of Saudi Arabia. Ismail said that the regulatory approval for our new articles of association was a team effort and made possible with ‘with the guidance and support from our board secretary, both our shareholders and the board’. Another significant development was the update of the company’s standard conditions of contract which applies to all of the company’s contracts with its suppliers and vendors. This was significant in enabling the company to enhance its legal rights and also for the company to be more competitive in the market. Ismail also highlights the contribution of Omar Al-Ghamdi in this regards and also the compliance trainee who together as a team ‘managed to develop several legal compliance check lists and establish a legal & compliance procedure’. More recently in early 2018, the legal team was entrusted to develop a robust compliance function and program for the company. Ismail anticipates that there will be more legal and regulatory compliance expected by all the companies in the Kingdom of Saudi Arabia as the legal and regulatory landscape changes with the issuance and improvement of laws and regulations in the Kingdom. Ismail says the company, being a subsidiary of Saudi Aramco and Shell, will continuously raise its legal and compliance bar; in order to achieve excellence, moving forward.