Corporate Governance Country Assessment : Kingdom of Saudi Arabia
Good corporate governance ensures that companies use their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. It is an important prere...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/838731468106752813/Kingdom-of-Saudi-Arabia-Report-on-the-Observance-of-Standards-and-Codes-ROSC-corporate-governance-country-assessment http://hdl.handle.net/10986/28086 |
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okr-10986-28086 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ARBITRATION AUDIT COMMITTEE AUDIT COMMITTEES AUDITS BALANCE SHEET BANKING SECTOR BID BONDS BOOK ENTRY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS CASE CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKET LAW CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL STRUCTURE CAPITAL STRUCTURES CASH FLOW CASH RESERVES CASH TRANSFER COMMERCIAL BANK COMPANY INFORMATION COMPANY LAW COMPETITIVE MARKET CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS COST OF CAPITAL CREDIBILITY CREDITOR CREDITOR RIGHTS CREDITORS CUSTODY DEBT DEBT INSTRUMENT DEPOSIT DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DIVIDEND DIVIDEND POLICIES DOMESTIC INSTITUTIONAL INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE EFFICIENT MARKETS EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT MECHANISMS EQUITY MARKET EQUITY MARKETS EXPENDITURES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL SECTOR FINANCIAL STATEMENTS FOREIGN BANK FOREIGN BANKS FOREIGN COMPANIES FOREIGN COMPETITION FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FUND MANAGERS FUTURE GROWTH GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNANCE INDEX GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS INCOME INDEBTEDNESS INFORMATION DISCLOSURE INITIAL PUBLIC OFFERING INSIDER DEALING INSIDER TRADING INSURANCE INSURANCE COMPANIES INTERNAL CONTROLS INTERNATIONAL FINANCE INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUND INVESTMENT FUNDS INVESTOR CONFIDENCE INVESTOR PROTECTION IPO ISLAMIC LAW ISSUANCE ISSUANCES JOINT LIABILITY JOINT STOCK COMPANIES JOINT STOCK COMPANY JURISDICTIONS LEGAL DEVELOPMENT LEGAL FRAMEWORK LEGAL OWNERSHIP LEGAL PROTECTION LEGAL PROVISION LEGAL PROVISIONS LEGAL RIGHTS LEVY LIABILITY LIBERALIZATION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDITY MAJORITY OF SHARES MARKET CAP MARKET CAPITALIZATION MARKET CONCENTRATION MARKET DATA MARKET INDEX MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICES MARKET REGULATION MARKET REGULATORS MARKET SUPERVISION MARKET TRANSPARENCY MINORITY SHAREHOLDER MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY AUTHORITY MONETARY FUND MORTGAGE NATIONAL BANK OIL PRICES OPERATIONAL RISK OWNERSHIP DATA OWNERSHIP RIGHTS OWNERSHIP STRUCTURES PENSION PENSION FUNDS PORTFOLIO PROPERTY RIGHTS PUBLIC COMPANIES PUBLIC INVESTMENT PUBLIC MARKET PUBLIC OFFERINGS PUBLIC PENSION PUBLIC POLICY REGISTRATION SYSTEM REGULATOR REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY OVERSIGHT REGULATORY STRUCTURE RESERVE RETAIL INVESTORS RETIREMENT SAVINGS RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RULE OF LAW SAFETY NET SECURITIES SECURITIES REGULATIONS SECURITIES REGULATOR SECURITIES TRANSACTIONS SETTLEMENT SHARE OWNERSHIP SHARE PRICES SHAREHOLDER SHAREHOLDER PROTECTION SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUPERVISORY AGENCIES SUPERVISORY AUTHORITY TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING PLATFORM TRADING SYSTEM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TRANSPARENT CAPITAL MARKET TURNOVER TURNOVER RATIO UNDERDEVELOPED MARKET WEAK CORPORATE GOVERNANCE WORLD DEVELOPMENT INDICATORS |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ARBITRATION AUDIT COMMITTEE AUDIT COMMITTEES AUDITS BALANCE SHEET BANKING SECTOR BID BONDS BOOK ENTRY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS CASE CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKET LAW CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL STRUCTURE CAPITAL STRUCTURES CASH FLOW CASH RESERVES CASH TRANSFER COMMERCIAL BANK COMPANY INFORMATION COMPANY LAW COMPETITIVE MARKET CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS COST OF CAPITAL CREDIBILITY CREDITOR CREDITOR RIGHTS CREDITORS CUSTODY DEBT DEBT INSTRUMENT DEPOSIT DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DIVIDEND DIVIDEND POLICIES DOMESTIC INSTITUTIONAL INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE EFFICIENT MARKETS EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT MECHANISMS EQUITY MARKET EQUITY MARKETS EXPENDITURES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL SECTOR FINANCIAL STATEMENTS FOREIGN BANK FOREIGN BANKS FOREIGN COMPANIES FOREIGN COMPETITION FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FUND MANAGERS FUTURE GROWTH GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNANCE INDEX GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS INCOME INDEBTEDNESS INFORMATION DISCLOSURE INITIAL PUBLIC OFFERING INSIDER DEALING INSIDER TRADING INSURANCE INSURANCE COMPANIES INTERNAL CONTROLS INTERNATIONAL FINANCE INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUND INVESTMENT FUNDS INVESTOR CONFIDENCE INVESTOR PROTECTION IPO ISLAMIC LAW ISSUANCE ISSUANCES JOINT LIABILITY JOINT STOCK COMPANIES JOINT STOCK COMPANY JURISDICTIONS LEGAL DEVELOPMENT LEGAL FRAMEWORK LEGAL OWNERSHIP LEGAL PROTECTION LEGAL PROVISION LEGAL PROVISIONS LEGAL RIGHTS LEVY LIABILITY LIBERALIZATION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDITY MAJORITY OF SHARES MARKET CAP MARKET CAPITALIZATION MARKET CONCENTRATION MARKET DATA MARKET INDEX MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICES MARKET REGULATION MARKET REGULATORS MARKET SUPERVISION MARKET TRANSPARENCY MINORITY SHAREHOLDER MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY AUTHORITY MONETARY FUND MORTGAGE NATIONAL BANK OIL PRICES OPERATIONAL RISK OWNERSHIP DATA OWNERSHIP RIGHTS OWNERSHIP STRUCTURES PENSION PENSION FUNDS PORTFOLIO PROPERTY RIGHTS PUBLIC COMPANIES PUBLIC INVESTMENT PUBLIC MARKET PUBLIC OFFERINGS PUBLIC PENSION PUBLIC POLICY REGISTRATION SYSTEM REGULATOR REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY OVERSIGHT REGULATORY STRUCTURE RESERVE RETAIL INVESTORS RETIREMENT SAVINGS RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RULE OF LAW SAFETY NET SECURITIES SECURITIES REGULATIONS SECURITIES REGULATOR SECURITIES TRANSACTIONS SETTLEMENT SHARE OWNERSHIP SHARE PRICES SHAREHOLDER SHAREHOLDER PROTECTION SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUPERVISORY AGENCIES SUPERVISORY AUTHORITY TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING PLATFORM TRADING SYSTEM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TRANSPARENT CAPITAL MARKET TURNOVER TURNOVER RATIO UNDERDEVELOPED MARKET WEAK CORPORATE GOVERNANCE WORLD DEVELOPMENT INDICATORS World Bank Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| geographic_facet |
Middle East and North Africa Saudi Arabia |
| description |
Good corporate governance ensures that
companies use their resources more efficiently, protects
minority shareholders, leads to better decision making, and
improves relations with workers, creditors, and other
stakeholders. It is an important prerequisite for attracting
the patient capital needed for sustained long-term economic
growth. This report provides an assessment of the Kingdom of
Saudi Arabia (KSA) corporate governance policy framework. It
highlights recent improvements in corporate governance
regulation, makes policy recommendations, and provides
investors with a benchmark against which to measure
corporate governance in KSA. The corporate governance laws,
regulations, and institutions that have been put in place
generally reflect international good practice. In the wake
of the market correction of 2006, market regulators focused
on the need for better corporate governance via legal and
institutional reforms. These included passing a Corporate
Governance Regulation (CGR) for listed companies (2006), and
further strengthening the supervisory functions across the
financial sector. However, many of the laws and institutions
are still relatively new and untested; awareness of the
importance of good corporate governance is low, and
implementation by companies in its early stages. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| title_short |
Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| title_full |
Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| title_fullStr |
Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| title_full_unstemmed |
Corporate Governance Country Assessment : Kingdom of Saudi Arabia |
| title_sort |
corporate governance country assessment : kingdom of saudi arabia |
| publisher |
Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/838731468106752813/Kingdom-of-Saudi-Arabia-Report-on-the-Observance-of-Standards-and-Codes-ROSC-corporate-governance-country-assessment http://hdl.handle.net/10986/28086 |
| _version_ |
1764465746023284736 |
| spelling |
okr-10986-280862021-04-23T14:04:46Z Corporate Governance Country Assessment : Kingdom of Saudi Arabia World Bank ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ARBITRATION AUDIT COMMITTEE AUDIT COMMITTEES AUDITS BALANCE SHEET BANKING SECTOR BID BONDS BOOK ENTRY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS CASE CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKET LAW CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CAPITAL STRUCTURE CAPITAL STRUCTURES CASH FLOW CASH RESERVES CASH TRANSFER COMMERCIAL BANK COMPANY INFORMATION COMPANY LAW COMPETITIVE MARKET CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS COST OF CAPITAL CREDIBILITY CREDITOR CREDITOR RIGHTS CREDITORS CUSTODY DEBT DEBT INSTRUMENT DEPOSIT DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISPUTE RESOLUTION DIVIDEND DIVIDEND POLICIES DOMESTIC INSTITUTIONAL INVESTORS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE EFFICIENT MARKETS EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENFORCEMENT MECHANISMS EQUITY MARKET EQUITY MARKETS EXPENDITURES FINANCE CORPORATION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL SECTOR FINANCIAL STATEMENTS FOREIGN BANK FOREIGN BANKS FOREIGN COMPANIES FOREIGN COMPETITION FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENT FUND MANAGERS FUTURE GROWTH GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNANCE INDEX GOVERNANCE PRACTICES GOVERNANCE REGULATION GROSS SETTLEMENT SYSTEM HOLDING HOLDINGS INCOME INDEBTEDNESS INFORMATION DISCLOSURE INITIAL PUBLIC OFFERING INSIDER DEALING INSIDER TRADING INSURANCE INSURANCE COMPANIES INTERNAL CONTROLS INTERNATIONAL FINANCE INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUND INVESTMENT FUNDS INVESTOR CONFIDENCE INVESTOR PROTECTION IPO ISLAMIC LAW ISSUANCE ISSUANCES JOINT LIABILITY JOINT STOCK COMPANIES JOINT STOCK COMPANY JURISDICTIONS LEGAL DEVELOPMENT LEGAL FRAMEWORK LEGAL OWNERSHIP LEGAL PROTECTION LEGAL PROVISION LEGAL PROVISIONS LEGAL RIGHTS LEVY LIABILITY LIBERALIZATION LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIQUIDITY MAJORITY OF SHARES MARKET CAP MARKET CAPITALIZATION MARKET CONCENTRATION MARKET DATA MARKET INDEX MARKET MANIPULATION MARKET PARTICIPANTS MARKET PRICES MARKET REGULATION MARKET REGULATORS MARKET SUPERVISION MARKET TRANSPARENCY MINORITY SHAREHOLDER MINORITY SHAREHOLDER RIGHTS MINORITY SHAREHOLDERS MONETARY AUTHORITY MONETARY FUND MORTGAGE NATIONAL BANK OIL PRICES OPERATIONAL RISK OWNERSHIP DATA OWNERSHIP RIGHTS OWNERSHIP STRUCTURES PENSION PENSION FUNDS PORTFOLIO PROPERTY RIGHTS PUBLIC COMPANIES PUBLIC INVESTMENT PUBLIC MARKET PUBLIC OFFERINGS PUBLIC PENSION PUBLIC POLICY REGISTRATION SYSTEM REGULATOR REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY BODIES REGULATORY FRAMEWORK REGULATORY OVERSIGHT REGULATORY STRUCTURE RESERVE RETAIL INVESTORS RETIREMENT SAVINGS RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT SYSTEM RULE OF LAW SAFETY NET SECURITIES SECURITIES REGULATIONS SECURITIES REGULATOR SECURITIES TRANSACTIONS SETTLEMENT SHARE OWNERSHIP SHARE PRICES SHAREHOLDER SHAREHOLDER PROTECTION SHAREHOLDERS STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUPERVISORY AGENCIES SUPERVISORY AUTHORITY TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING PLATFORM TRADING SYSTEM TRADING VOLUME TRANSACTION TRANSACTION COSTS TRANSPARENCY TRANSPARENT CAPITAL MARKET TURNOVER TURNOVER RATIO UNDERDEVELOPED MARKET WEAK CORPORATE GOVERNANCE WORLD DEVELOPMENT INDICATORS Good corporate governance ensures that companies use their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth. This report provides an assessment of the Kingdom of Saudi Arabia (KSA) corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in KSA. The corporate governance laws, regulations, and institutions that have been put in place generally reflect international good practice. In the wake of the market correction of 2006, market regulators focused on the need for better corporate governance via legal and institutional reforms. These included passing a Corporate Governance Regulation (CGR) for listed companies (2006), and further strengthening the supervisory functions across the financial sector. However, many of the laws and institutions are still relatively new and untested; awareness of the importance of good corporate governance is low, and implementation by companies in its early stages. 2017-08-29T20:22:50Z 2017-08-29T20:22:50Z 2009-02 Report http://documents.worldbank.org/curated/en/838731468106752813/Kingdom-of-Saudi-Arabia-Report-on-the-Observance-of-Standards-and-Codes-ROSC-corporate-governance-country-assessment http://hdl.handle.net/10986/28086 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment Economic & Sector Work Middle East and North Africa Saudi Arabia |