Corporate Governance Moves Center Stage As Gulf Countries Aim For Increased Transparency Mar 11

  • ID: 1711946
  • March 2011
  • Standard & Poors
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  • Abu Dhabi (Emirate of)
  • Arab Bank PLC (Bahrain)
  • BMI Bank B.S.C.
  • Emaar Properties PJSC
  • MB Holding Co. LLC
  • Qatar Petroleum
  • MORE

Corporate governance, long considered the Achilles heel of companies in the Gulf region, is beginning to feature strongly on policymakers' radar. While it's too early to say how far governance may improve as a result of recent pronouncements on this subject from Gulf Cooperation Council (GCC) member states, Standard & Poor's Ratings Services believes the region is taking positive steps in the right direction. Governance standards--particularly those surrounding financial disclosure; separation of executive from the chair; treatments of shareholders and creditors; transparency, sophistication of insolvency regimes; penalties for corruption, embezzlement, and fraud; and the influence of the parent company--form an important element in our assessment of an issuer's credit quality. This is especially true in jurisdictions such as those of...

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Gulf International Bank B.S.C.
- National Bank of Kuwait S.A.K.
- Arab Banking Corp. B.S.C.
- Oman (Sultanate of)
- The National Commercial Bank
- Arab National Bank
- Samba Financial Group
- Riyad Bank
- The Saudi British Bank
- Qatar (State of)
- Gulf Investment Corporation G.S.C.
- National Bank of Abu Dhabi
- Mashreqbank
- Qatar Petroleum
- Abu Dhabi National Insurance Co. (PSC)
- Al-Ahleia Insurance Co. S.A.K.
- Al Ain Ahlia Ins. Co.
- Al Dhafra Insurance Co. P.S.C.
- Al Khaleej Takaful Group
- Emirates Insurance Co. (PSC)
- Trust International Insurance & Reinsurance Co. B.S.C.(c)
- Abu Dhabi Commercial Bank
- Kuwait (State of)
- BankMuscat S.A.O.G.
- Burgan Bank
- Al Rajhi Bank
- Orient Insurance P.J.S.C.
- Dubai Islamic Bank
- Ras Al-Khaimah National Ins Co.
- Bahrain (Kingdom of)
- Gulf Bank
- Bahrain Kuwait Insurance Co. BSC
- Central Bank of Bahrain
- Saudi Arabia (Kingdom of)
- Al Ahli Bank of Kuwait
- Oman United Insurance Co. S.A.O.G.
- Kuwait Finance House
- Qatar National Bank
- Kuwait Projects Co. (Holding) K.S.C.
- Saudi Basic Industries Corp.
- National General Insurance Co. (PSC)
- BMI Bank B.S.C.
- Banque Saudi Fransi
- Doha Insurance Co. Q.S.C.
- Takaful Re Ltd.
- The Commercial Bank (Q.S.C.)
- The Saudi Investment Bank
- Emaar Properties PJSC
- Sharjah Islamic Bank
- Abu Dhabi National Energy Co. PJSC
- MB Holding Co. LLC
- Abu Dhabi (Emirate of)
- Salama/Islamic Arab Insurance Co. (P.S.C.)
- Arab Bank PLC (Dubai)
- Arab Bank PLC (Bahrain)
- Arab Bank PLC (Qatar)
- Al Baraka Banking Group B.S.C.
- Qatar Fertiliser Company (Q.S.C.C)
- DIFC Investments LLC
- DP World Ltd.
- Saudi Electric Co.
- Ahli United Bank B.S.C.
- Doha Bank Q.S.C.
- Jebel Ali Free Zone (FZE)
- JAFZ Sukuk Ltd.
- Saudi Telecom Co.
- Hannover ReTakaful B.S.C.
- Ras Al Khaimah (Emirate of)
- The Arab Investment and Export Credit Guarantee Corp.
- Aldar Properties PJSC
- Oman Power and Water Procurement Co. SAOC
- Sukuk Funding (No.2) Ltd.
- Emirates Telecommunications Group Company PJSC
- Mubadala Development Co. PJSC
- First Takaful Insurance Co.
- Wethaq Takaful Insurance Co. K.S.C. (Closed)
- Ooredoo Q.S.C.
- Saudi Re for Cooperative Reinsurance Co.
- Dubai Islamic Insurance & Reinsurance Co. (Aman)
- Tourism Development and Investment Co. P.J.S.C.
- Malath Cooperative Insurance & Reinsurance Co.
- International Petroleum Investment Co.
- Saudi National Insurance Co.
- Dar Al Arkan Real Estate Development Co.
- Doha Bank Assurance Co. LLC
- Wataniya Insurance Co.
- Bahrain Mumtalakat Holding Co.
- MB Petroleum Service LLC
- Qatar General Ins. & Reins. Co. S.A.Q.
- Qatar Insurance Co. S.A.Q.
- Warba Ins. Co. K.S.C.
- Gulf Insurance Group K.S.C.P.
- Oman Insurance Co. (PSC)
- Bahrain National Insurance Co. BSC
- Al Buhaira National Insurance Co. (PSC)
- Takaful International Co. BSC
- Tawuniya/The Company for Cooperative Insurance
- Kuwait Reinsurance Co. K.S.C.
- Kuwait Insurance Co. S.A.K.

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