Santiago Principles Self-Assessment - Investment Corporation of Dubai - ICD 2022

The governance framework for the SWF should be sound and establish a clear and effective division of roles and responsibilities in order to facilitate accountability and operational independence in the management of the SWF to pursue its objectives. [...] (11) of 2006 further provides for the Managing Director to be responsible to the Board of Directors for the implementation of the general policy of ICD, the efficiency of its bodies, and to manage ICD and supervise its affairs.   The Board has put in place appropriate delegations for the management of the operations of ICD. [...] The Investment Committee is primarily responsible for the review and recommendation to the Board of ICD’s investment strategy, oversight of the performance of investments made by ICD, and approval of investment transactions.  The Audit Committee comprises four Board members. The Audit Committee is primarily responsible for the oversight of ICD’s financial reporting and the audit process, its syste. [...] The Remuneration Committee is primarily responsible for the review and approval of the remuneration of executive directors, oversight of ICD’s compensation and benefits plans, and the review and approval of the corporate performance-related objectives of ICD.  The Management Committee comprises the senior management team of ICD and has the responsibility for overseeing its day-to-day operations. . [...] H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (“UAE”) and The Ruler of Dubai), which is underpinned by an overriding objective of supporting the   long-term economic growth of Dubai and to:  consolidate and manage the existing portfolio ofc  ompanies and investments of the Government of Dubai;  provide financial and strategic oversight of t.