Feb 04, 2016
The Saudi Arabian Mining Company (Ma’aden) has recently added to its growing list of local and international awards by winning the 2015 Saafa Transparency Award. The Saudi Saafa Foundation for Transparency and Integrity announced that Ma’aden won the award during the Foundation’s quarterly gathering on 31st January 2016.
The Award promotes the values of transparency, integrity, fairness and accountability in the workplace. It honors Saudi firms that have adopted and promoted these values, and recognizes award winners as role models in Saudi business.
Dr. Al Abdulqader, Chairman of the Saafa Transparency Committee, said that Ma’aden won the award because it had achieved significant progress in corporate governance, disclosure and transparency through the application of a world class-code of conduct and robust policies addressing whistleblowing and conflict of interest.
Ma’aden was also recognized as a leader in Saudi corporate social responsibility for its community development initiatives, for providing employment opportunities to local communities, and for its commitment to protecting the environment in areas where the company operates. Upon receiving the award, Ma’aden President and CEO Khalid Al Mudaifer said, “Winning this award is a testament to our values, which every employee has committed to adopt and embed in his daily activities. The award also reinforces our system of governance, which protects the interests of our shareholders, employees, customers, communities and the environment.”
Beyond governance, Ma’aden has also focused on transparency in disclosure. By ensuring that high quality company information is disclosed to stakeholders simultaneously, Ma’aden seeks to promote fairness and protect the rights of all stakeholders while still meeting the expectations of the financial community.
Ma’aden is committed to business integrity and continues to apply the highest ethical standards in its partnerships with suppliers. Ma’aden has implemented a strict conflict of interest policy and ensures that all of its employees are fully committed to upholding it. “I want to thank the Saafa Foudnation for this tremendous honour,” said Al Mudaifer, “but I also want to thank all Ma’aden employees; it is their commitment to adopting and promoting corporate integrity that led to this latest award.”
Ma’aden also won the award for “Best Corporate Governance in Saudi Arabia” from World Finance Magazine in 2014, and the award for “Leading Corporate Investor Relations in Saudi Arabia” by the Middle East Investor Relations Society in 2013.