Corporate Governance Of Listed Companies In Kuwait A Comparative Study With United Kingdom Saudi And Qatar Codes Link [best] -

Navigating Governance: A Comparative Study of Kuwait’s Corporate Code

4. Shareholder rights & protections

The final interesting observation:

When oil prices crash, Kuwaiti family firms suddenly embrace UK-style governance to attract foreign debt. When oil booms, they revert to the Diwaniya (traditional majlis) model of decision making. Strengthening Board Independence : Increasing the number of

Part 1: Core Codes & Legal Frameworks

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. introduced in 2016

Kuwait has built a robust foundation for corporate governance that aligns well with international standards. However, the comparison with the UK highlights a need for greater board independence and deeper stakeholder engagement. Locally, while Kuwait remains a leader in the GCC, the aggressive reforms in Saudi Arabia and the ESG focus in Qatar provide a roadmap for future iterations of the Kuwaiti code. For Boursa Kuwait to remain competitive, the evolution from "box-ticking" compliance to a genuine culture of accountability remains the ultimate goal. updated in 2023

model. Unlike the more rigid rules in the GCC, the UK focuses on high-level principles that allow companies flexibility, provided they transparently explain any deviations to shareholders. Saudi Arabia: Strict & Mandatory Saudi Arabia ’s framework, updated in 2023, is notably more than Kuwait's or the UK's. 2025 Kuwait Market IQ - ISS Insights

  1. Strengthening Board Independence: Increasing the number of independent directors and ensuring their active participation in board decisions.
  2. Enhancing Disclosure and Transparency: Improving the timeliness and comprehensiveness of financial and non-financial disclosures.
  3. Establishing Committees: Forming audit, nomination, and remuneration committees to ensure effective governance.