Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


Corporate Governance in Saudi Arabia: Analysis of Current Practices

Author(s): Rehana Parveen

 Corporate governance has been introduced and developed to address the financial scandals and corporate misconducts as experienced by various countries across the world. This paper analyses the current practices of corporate governance in Saudi Arabia. In order to promote, transparency, accountability and ethical behaviour Saudi Arabia has amended its corporate governance regulation in 2017. Saudi policy-maker has been seen as pioneering, among Arabic countries in light of his approval of corporate governance regulations. These regulations are agreed to have been the most important of the recent legal, finance and administrative regulations prepared in Saudi Arabia. The principal target of this research is to study the current prevailing governance system in Saudi Arabia. The second reason for the examination is to explore the current practices associated with Saudi corporate administration action plans. The paper states that the Saudi corporate administration has been declared in agreement with standards of on-going global corporate administration. Accordingly, Saudi corporate administration arrangements can be viewed as based to a great extent on positive man-made laws. The paper further found that Saudi corporate administration as an institutional system is separated between a few organizations, regardless of whether inward or outside, which may bring about clarity with regards to executing great corporate administration, rehearses.

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