Thursday 16 September 2010

Gulf countries need to step on the gas over corporate reforms - The National Newspaper

Efforts to drive corporate reform across the Middle East need to be accelerated, says the executive director of Hawkamah Institute for Corporate Governance based in Dubai.

“The speed at which we have had reform of corporate governance regimes and guidelines has been very timid and we should move much faster,” Dr Nasser Saidi said yesterday.

“Oman and Saudi Arabia already have compliance departments within their market regulators to ensure compliance with corporate governance, this signals that authorities are serious about implementing good corporate governance and we would like to see more of that,” said Dr Saidi, who is also the chief economist of the Dubai International Financial Centre Authority."

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