corporate governance - Tamkeen Consult homepage

development of corporate
governance in gcc
4.corporatein the region
governance
Countries in the gulf region are witnessing a shift in the attention given to corporate governance. However, while some governments are in the phase of mandatory implementation
of corporate governance regulations, others are still working on educating companies on its significance for corporate sustainability. The table below shows how corporate governance
has developed in countries of the gulf region:
Scope/Event
When & Where
By Who
Highlights
Assessment report
of corporate
governance
September, 2008 -
The Gulf Region
The National Investor (TNI)
and Hawkamah, the Institute
for Corporate Governance
The ranking of companies in the report were based upon Behavioral
Assessment Score for Investors and Corporations (BASIC)
BASIC is a comprehensive, systematic and quantitative ranking of GCC
listed stocks. It measures 43 parameters within three main areas: trading
history, corporate communications and disclosure.
Bahrain landed on top of the Gulf list, closely followed by Oman.
KSA and Kuwait, although have most liquid and mature markets in the
region, scored the lowest as only one third of companies there publish
their annual reports in English.
Report showed that less than one in ten GCC companies preannounce
their results publication dates, two in five have no website, and only
two percent of GCC companies hold analyst meetings.