Oman and Bahrain are home to the most transparent listed companies in the fast-growing Gulf, but the region continues to lag badly behind other developed and emerging markets, according to the latest research.
Hawkamah, a Dubai-based corporate governance institute, and The National Investor, an Abu Dhabi-based investment bank, compiled the research during the past year. It ranked 581 Gulf Co-operation Council listed companies on 43 criteria that covered trading history, corporate disclosure and communications.
On average, the eight largest listed companies scored 40 per cent lower than the largest companies in western and emerging markets, from the US and Australia to to Brazil and India. Even the best scoring GCC companies score 15 per cent below their global counterparts.
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