Outsourcing
1. Outsourcing
The Group ensures that, when engaging third parties, the Group’s Board of Directors and executive management remain responsible for the functions or activities outsourced or supported by external parties. The Group also ensures that the engagement of third parties does not give rise to any material risks to the Company, nor does it adversely affect the Company’s ability to manage its risks or to fulfill its legal and regulatory obligations.
2. Reasons and justifications for outsourcing
Outsourcing can be a successful strategy if implemented thoughtfully and in balance with the Company’s goals. Outsourcing by companies is a common strategy for many reasons and justifications, including, but not limited to, the following:
- Reducing costs
- Focus on core activities
- Operational flexibility
- Mitigating risks
- Improving time management
3. A copy of the contracts signed when outsourcing
The Group uses some external parties to manage a specific project or support the Group’s departments in some operational matters, including, but not limited to:
- PricewaterhouseCoopers Al Shatti & Co. ‑ Auditor
- Maysan Law Firm and Legal Consultants ‑ Legal Advisor
- Abdul Wahab Al-Rumi and Partners Office - Tax Support Services Provider
- Kuwait Net General Trading & Contracting Co. ‑ Content Updating & Web Support/Maintenance