Saudi Arabia Regulations on Corporate Governance

Algoere Turki Naif S () and Hasani Mohd. Ali

International Journal of Asian Social Science, 2019, vol. 9, issue 2, 229-239

Abstract: The concept of corporate governance has been introduced and developed to address financial scandals and corporate misconducts as experienced by various countries across the world. This paper discusses the recent development of corporate governance in Saudi Arabia. Saudi Arabia has amended its corporate governance regulation in 2017 for the purpose of promoting accountability, transparency and stewardship of investors’ capital. The methodology adopted in this paper is the content analysis approach wherein related literature was discussed and analysed, particularly the local laws and other relevant documents. The finding of this study reveals that despite the Saudi Regulation on corporate governance was amended in 2017 in order to cure the defect of the earlier Regulations; still, there are other pending issues that are not in conformity with the international best practices. Thus, addressing these identified issues will go a long way in meeting the objectives of the Capital Market Authority; reflect the conventional developments in the corporate sector and upgrades the Saudi Arabian corporate reputation.

Keywords: Corporate governance; Saudi Arabia; Directors’ duty. (search for similar items in EconPapers)
Date: 2019
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