Corporate Governance Of Listed Companies In Kuwait A Comparative Study With United Kingdom Saudi And Qatar Codes Link Official

Comparative study: Corporate governance for listed companies — Kuwait vs United Kingdom, Saudi Arabia, Qatar

Executive summary

A concise comparative analysis of corporate governance frameworks for listed companies in Kuwait, the United Kingdom, Saudi Arabia, and Qatar, highlighting legal foundations, codes/regulators, board structure, shareholder rights, disclosure and transparency, audit and risk oversight, enforcement, and recent reforms.

Board Structure and Size: Listed companies in Kuwait must have a minimum of 5 board members, while banks require at least 11. Studies indicate that board sizes smaller than nine members are generally more effective for firm performance in the GCC. Kuwait Stock Exchange

• Kuwait Stock Exchange. (2022). Kuwait Stock Exchange Annual Report.
• Capital Market Authority of Kuwait. (2017). Corporate Governance Code for Kuwaiti Joint Stock Companies.
• Financial Reporting Council of the United Kingdom. (2020). UK Corporate Governance Code.
• Saudi Arabian Capital Market Authority. (2017). Corporate Governance Code.
• Qatar Financial Reporting Council. (2016). Qatar Corporate Governance Code.

Key Links to Highlight in Your Study:

Saudi Arabia Corporate Governance Code

The Kuwait Corporate Governance Code, introduced in 2016, aims to enhance the governance framework for listed companies in the country. The code emphasizes the importance of a clear and transparent governance structure, with a well-defined role for the board of directors. It also requires companies to establish an audit committee and a nomination and remuneration committee. However, the code lacks specific guidelines on the independence of non-executive directors and the separation of chairman and CEO roles. Key Links to Highlight in Your Study: Saudi