Tag Archives: Organizational Culture

Corporate Governance : Transparency & Conflict of Interest

Corporate Governance

Present Day Scenario & Needs
Transparency amidst board members and greater demand for individual accountability has become a must for Arab Companies as the economy is adopting a market based approach.

“Corporate Governance” the term did not exist in the Middle East & North Africa either in the government books or Arabic terminology as the areas primitively housed companies and enterprises which were owned by individual families or states.

In order to run modern day businesses few elements like transparency and conflict of interest were absent, as the companies carried out unorganized and self-restricted policies without adhering to the social elements.

To the positive side of things, in present day scenario 14 out of 17 economies present in the middle-east have adopted “hawkamah” a term which refers to “governance.” However the economies that are in transition on the political and economic fronts, the process of adopting corporate governance has not yielded positive results.