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.

English Also available in: French, Arabic

Access to finance and capital markets

Access to finance and capital markets is essential for growth and economic competitiveness. This chapter investigates MENA capital markets in order to identify common priorities for achieving progress, consistent with the G20/OECD Principles of Corporate Governance. It provides an overview of MENA’s capital markets and goes on to explore factors limiting access to finance, comparing the situation in the region with global trends when possible. The chapter explores how MENA’s companies use public equity financing and corporate bond markets, reviews the structure of its stock exchanges and examines the region’s corporate ownership structure, including concentrated ownership and limits on foreign investors. It concludes with a summary of key challenges to growth in the region, followed by policy options for deepening capital markets and enabling growth companies to obtain finance from them.

English Also available in: French

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error