Board Portal for Financial Services
Financial institutions carry more committees, meet more often and are examined more closely than most boards. Risk, audit, and — for Islamic institutions — Sharia committees all report upward on their own cadence. Almajles keeps that committee load organized and leaves a record that stands up when a supervisor asks for it.
What is different in a regulated financial institution
More committees, meeting more often
Risk and audit committees in a bank or insurer typically meet on a much tighter cycle than a general corporate board, and each cycle generates papers, minutes and recommendations that have to reach the board intact.
Supervisory review is routine, not exceptional
Being asked to evidence how a decision was governed is part of normal operations. The useful answer is a complete record — notice, attendance, quorum, votes, resolution text — rather than a reconstruction.
Sharia governance runs alongside, not inside, the rest
Islamic institutions maintain a Sharia committee with its own membership, mandate and pronouncements, which needs to be governed properly and kept distinct from the board and its other committees.
Material information is time-sensitive
Where a board decision triggers a disclosure obligation, the delay between the resolution being taken and being formally documented is itself a risk.
How Almajles supports it
Committee-heavy governance handled as the normal case rather than the exception:
- Any number of board committees, each with its own mandate, membership and meeting cycle
- Risk, audit, nomination and remuneration, and Sharia committees governed side by side
- Invitations, member notification and proxy management for each committee independently
- Automatic quorum verification before a vote is opened
- In-person, remote and hybrid attendance across a distributed committee membership
- Electronic voting with the outcome bound to the resolution it decided
- Minutes and resolutions documented and archived as an evidence trail
- Follow-up on resolution execution, so committee recommendations do not stall
- Data residency inside Saudi Arabia as standard, with on-premise or private-cloud hosting, ERP integration and a guaranteed SLA on the Enterprise tier
The Saudi context
Financial institutions in the Kingdom sit under sector supervision — the Saudi Central Bank (SAMA) for banks, insurers and finance companies, and the Capital Market Authority for capital-market institutions — in addition to the general corporate governance framework that applies to listed entities. In practice this means more mandated committees, closer attention to how conflicts of interest and related-party transactions are handled, and a standing expectation that governance can be evidenced rather than asserted.
Data residency, compliance and assurance
Where the data lives, and which frameworks the platform answers to, are usually the first questions a governance, risk or procurement team asks. The answers are the same on every tier.
- Data residency in Saudi Arabia
- All customer data is hosted and stored inside the Kingdom and does not leave it. Residency is guaranteed, not offered as one deployment option among several.
- National Cybersecurity Authority (NCA)
- Compliant with the NCA cybersecurity controls, including the cloud controls that govern how a service provider handles a national entity’s data.
- Saudi Central Bank (SAMA)
- Compliant with SAMA’s cyber security and outsourcing requirements, so a supervised bank, insurer or finance company can adopt the platform within its own regulatory obligations.
- Saudi Data & AI Authority (SDAIA)
- Compliant with the Personal Data Protection Law (PDPL) and SDAIA’s implementing regulations, covering the personal data of board members, shareholders and staff.
- Continuous assurance
- Compliance is maintained continuously rather than at an annual checkpoint: controls are monitored on an ongoing basis and reassessed as the frameworks themselves are updated.
Frequently asked questions
Can it handle a Sharia committee alongside the board committees?
Yes. Each committee is set up with its own mandate, membership and meeting cycle, so a Sharia committee is governed in the same platform as the audit and risk committees while its records stay distinct.
What evidence does the platform retain for a supervisory review?
Invitations and notification, attendance, quorum verification, voting results and the approved resolution text are recorded together for each meeting and archived, so the governance of a decision can be shown end to end.
Where is our data stored, and which frameworks does the platform meet?
All data is hosted and stored inside Saudi Arabia and does not leave the Kingdom. The platform is compliant with the NCA cybersecurity controls, SAMA’s cyber security and outsourcing requirements, and SDAIA’s Personal Data Protection Law, with continuous assurance rather than a once-a-year assessment — which is what your own outsourcing due diligence will ask for.
Can the platform be hosted in our own environment?
Yes. The Enterprise tier includes on-premise or private-cloud hosting, API integration with internal systems, and a guaranteed SLA with 24/7 support.
How many committees can we run?
There is no structural limit on committees. Board committees and executive committees are separate modules, and both scale to the committee count a regulated institution typically carries.