Legal Framework
From The Report: Saudi Arabia 2020
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Saudi Arabia’s Capital Market Authority approved updated corporate governance regulations for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The regulations set standards for best corporate practices by promoting accountability, clarity and transparency for management, board members, shareholders and stakeholders. This overview covers shareholder rights, the responsibilities of an organisation’s Board of Directors, competition law, tenders and procurement, arbitration and bankruptcy. This chapter contains a viewpoint from Zeyad Khoshaim, Managing Partner, Khoshaim & Associates.

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Overview

Higher standards: Legislative and regulatory changes enshrine good corporate governance and international principles
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Saudi Arabia’s Capital Market Authority (CMA) approved updated corporate governance regulations (CGRs) for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The new CGRs reflect efforts to enhance the competitiveness of the Saudi exchange to investors. The regulations set standards for best corporate practices by promoting accountability, clarity and transparency for management, board members, shareholders and stakeholders. Shareholder…

Viewpoint

Into the future: Zeyad Khoshaim, Managing Partner, Khoshaim & Associates, on Vision 2030 and delivering on ambitious goals
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Viewpoint:Zeyad Khoshaim In 2016 Saudi Arabia launched its ambitious economic transformation plan, Vision 2030. The long-term Vision 2030 involves diversifying the Saudi Arabian economy by steering the country away from its traditional dependence on oil. The ambition and scope of Vision 2030 is unprecedented, and the plan will promote the Kingdom’s regional, cultural and religious significance to globally harness the Kingdom’s massive investment capabilities and utilise its strategic geographic…