Corporate Governance in MENA

Building a Framework for Competitiveness and Growth

image of Corporate Governance in MENA

A strong corporate governance framework is essential for MENA economies as they strive to boost economic growth, strengthen competitiveness and build prosperous societies. The G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises are a reference in order to build such a framework. This report assesses the corporate governance landscape in the MENA region by identifying challenges and proposing policy options for reform. The findings of the report are based on an analysis of policies and practices in four thematic areas: boosting access to finance and capital markets, improving transparency and disclosure, achieving gender balance in corporate leadership and enhancing the governance of state-owned enterprises in MENA. Overall, the report finds that MENA economies have made progress in strengthening corporate governance frameworks in recent years, but that the region still faces challenges in adopting and implementing corporate governance measures that support economic efficiency, sustainable growth and financial stability.

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Achieving gender balance in corporate leadership

Women’s economic empowerment supported by sound corporate governance is a critical policy area that enhances economic growth and competitiveness. This chapter assesses progress, identifies challenges and proposes policy options for MENA economies to increase gender balance in corporate life, in line with the 2013 OECD Gender Recommendation and 2015 G20/OECD Principles of Corporate Governance. It highlights why greater participation by women in corporate leadership is important for the region, including its positive impact on company performance, and shows why better data is needed in order to make informed policy decisions. The chapter then explores the challenges women in MENA face in accessing corporate leadership positions and presents examples of good practices in OECD and MENA economies. It concludes with policy options. Analysis is based on publicly available information, survey responses and input from practitioners in the region.

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