The increasing economic globalization means the necessity to fully understand the best international practices, with careful implementation that matches with the culture requirements of any region.
“CG” contributes to the stability of the financial sector in the Gulf Cooperation Countries following the financial crisis based on the proper assessment of different risks.
“CG” is the framework of rules and practices that forms the security to a company’s Board of Directors, in order to achieve the principles of transparency, responsibility, and fairness in its relationship with stakeholders such as employees, shareholders, investors, suppliers, creditors and the society.
The core of the “CG” determine the rights and duties between different components of a company such as “Board of Directors, High Management, Shareholders and other stakeholders”, and as well it determines the procedures and rules for making decisions inside the company.
As a result of implementation of “CG” principles and best international practices, it is expected to achieve improvement in performance and attraction of the local and international financial resources and creation of the in-depth trust between the employees and establishing a healthy working environment plus avoiding many risks.
“CG” is not only an important means and methods in the development and improvement of performance of companies, but exceeds that to granting the ability and mechanism to deal with different circumstances & challenges that may face the company particularly during the financial crisis.
Implementing “CG” principles and rules, will allow the shareholders to exercise their rights that are guaranteed by the law regardless of the size of their contributions in the capital, while insuring the freedom of movement of capital and encourage investments in general.