Corporate Governance

The company is committed to uphold good Corporate Governance practices and is to apply the Laws and Regulations issued by the concerned Authorities pertaining to joint-stock companies. In addition, the Company promotes efficiency, professionalism and transparency in all its operations and activities by developing and updating its own policies and systems. In this aspect, the Company, in coordination with Nama Electricity Company has developed a set of regulations, controls, and rules which promote best corporate governance practices. MEDC has a dedicated Internal Audit Department reporting to the Audit Committee of the BOD that reviews the Company's operations and processes, and a Compliance function that ensures compliance with the relevant Laws, Regulations and Controls. Regular reports are submitted to the Internal Audit Committee of the Board of Directors. Internal Audit Committee reports the main issues discussed and makes recommendation to the BOD on quarterly and annual basis.