Corporate Governance Of Listed Companies In Kuwait A Comparative Study With United Kingdom Saudi And Qatar Codes Link

This study compares the corporate governance frameworks of listed companies against the codes of the United Kingdom Saudi Arabia

Kuwait has built a robust foundation for corporate governance that aligns well with international standards. However, the comparison with the UK highlights a need for greater board independence and deeper stakeholder engagement. Locally, while Kuwait remains a leader in the GCC, the aggressive reforms in Saudi Arabia and the ESG focus in Qatar provide a roadmap for future iterations of the Kuwaiti code. For Boursa Kuwait to remain competitive, the evolution from "box-ticking" compliance to a genuine culture of accountability remains the ultimate goal. This study compares the corporate governance frameworks of

1. Introduction

Kuwait Corporate Governance Code

• KSA has more advanced e‑voting (Tadawulaty) and stronger anti‑corruption provisions. Saudi CMA enforces more actively.
• Qatar has a more detailed code on board evaluation and nomination committees.
• Kuwait shares similar independent director requirements but lacks specific provisions on board evaluation frequency.

Corporate governance serves as the backbone of investor confidence and market stability. In Kuwait, the regulatory framework has evolved significantly to align with international standards while maintaining local relevance. This article explores the corporate governance landscape for listed companies in Kuwait, comparing it with the established frameworks of the United Kingdom, Saudi Arabia, and Qatar. KSA has more advanced e‑voting (Tadawulaty) and stronger

Compliance:

Operates on a "comply or explain" basis, requiring annual governance reports submitted to the CMA. Comparative Analysis Corporate governance serves as the backbone of investor

1. Board Responsibilities: The Saudi Code provides more detailed guidance on board responsibilities, including setting strategic objectives, monitoring performance, and ensuring effective risk management.
2. Nomination and Remuneration Committees: The Saudi Code requires listed companies to establish nomination and remuneration committees, whereas the Kuwait Code recommends their formation but does not make it mandatory.
3. Disclosure Requirements: The Saudi Code requires more comprehensive disclosure of financial and non-financial information, including quarterly reports, whereas the Kuwait Code requires quarterly reports but with less detailed information.