This is our second consecutive Integrated Report, one which builds further on the new approach to reporting we adopted in 2017. It is a concise communication about how our strategy, governance, performance and prospects, in the context of the external environment, leads to creation of value over the short, medium and long term.
This new approach to reporting balances the need to communicate effectively through concise, relevant information while at the same time providing comprehensive compliance-related disclosures. Our Integrated Report thus is presented in two primary formats as seen in the previous section.
The Report largely covers operations of The Saudi Investment Bank (referred to as “SAIB”) only, unless otherwise stated. The boundary for financial reporting includes SAIB and its subsidiaries and associate companies (referred to as “Bank”).
Our reporting covers the period from January 1, to December 31, 2018, and is consistent with our usual annual reporting cycle for financial and sustainability reporting. There are no restatements of information provided in previous reports and no significant changes from previous reporting periods in the scope and aspect boundaries.
The most recent previous Integrated Report covered the 12-month period ended December 31, 2017.
This Integrated Report has been issued in both English and Arabic, in the event of any discrepancy the Arabic version shall prevail.
The information contained herein, as in the past, is in compliance with all applicable laws, regulations and standards. In preparing this Integrated Report we have drawn on concepts, principles and guidelines given in the International Integrated Reporting Framework <IIRC> and the Smart Integrated Reporting MethodologyTM.
This Report has been prepared in accordance with the GRI Standards: Core option.
The Consolidated Financial Statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) as modified by SAMA for the accounting of Zakat and Income Tax (relating to the application of International Accounting Standard (IAS) 12 “Income Taxes” and IFRIC 21 – “Levies” in so far as these relate to accounting for Saudi Arabian Zakat and Income Tax); and are in compliance with the provisions of the Banking Control Law, the Regulations for Companies in the Kingdom of Saudi Arabia and the Bank’s Articles of Association.
The Bank’s Corporate Communication Group is the custodian of this Report and for comments or queries please contact the Head of CSR at Head Office, The Saudi Investment Bank.
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