Downward corrections in Gulf Co-operation Council (GCC) stock markets and increased corporate activity by GCC corporations in the West are driving improvements in corporate governance standards, according to a report released today by the Institute of International Finance (IIF) and Hawkamah, the Institute for Corporate Governance. The report was released at the IIF's annual meeting in Singapore, as part of a co-ordinated strategy toward the harmonization of corporate governance standards in the GCC and their alignment with international best practice.
The report, 'Corporate Governance in the GCC - An Investor Perspective', is the first study to benchmark standards in the region. It is the result of a series of meetings held with senior officials from capital market authorities, central banks and stock exchanges, local fund managers, lawyers, experts, accountants and management consultants involved in corporate governance in the GCC.
See full Press Release.
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