Search by Popular Categories


  • Consumer

  • Commercial

  • Construction

  • Industrial

  • Oil & Gas

  • DIAMOND SPONSOR

COMMERCIAL NEWS

Zain wins global recognition for corporate governance

Jul 11, 2021 9:27 AM

Zain Group a leading telecom innovator in seven markets across the Middle East and Africa has announced that it has won the World Finance Best Corporate Governance Award 2021 for Kuwait. The company drew...

Zain Group, a leading telecom innovator in seven markets across the Middle East and Africa has announced that it has won the World Finance ‘Best Corporate Governance Award 2021’ for Kuwait.

The company drew praise from the judging panel for its principles and integrity captured by its Investor Relations and Corporate Governance Framework, which drive its ongoing ability to provide shareholder returns and to pursue long-term objectives while ensuring ongoing transparency and accountability.  

World Finance is a print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The annual World Finance Awards select and analyze some of the most diverse and succinct governance platforms and recognize leading organizations in this important area.

Zain has adopted a sound Investor Relations and Corporate Governance Framework that enhances the overall governance environment within the company in line with applicable laws, regulations and leading practices. Wherever possible, the company looks to exceed the requirements of the Corporate Governance Regulations issued by the Capital Markets Authority in Kuwait, Boursa Kuwait, the Ministry of Commerce and Industry and other regulatory bodies.

Bader A-Kharafi, Zain Vice-Chairman and Group CEO said: “We are proud of the standards we set with respect to corporate governance and integrity. From the publication of our annual and sustainability reports to our regulatory disclosures as well as operational and financial results reporting, we are guided by a desire to offer all our stakeholders the most transparent access to our information as possible.

 “The proactiveness and innovative policies of the Capital Markets Authority, Boursa Kuwait, Ministry of Commerce and Industry and other regulatory bodies in Kuwait drive us to be a more agile and responsible organization and we remain motivated to raise the bar even higher with respect to good governance and accountability.”

Zain’s corporate governance framework helps the company to mitigate risks and facilitates an effective board oversight over the company’s executive management by monitoring the implementation of policies when running daily operations.

Corporate Governance promotes strong internal controls to improve integrity of financials and establishes a culture of compliance. This governance structure has also helped Zain to win the confidence of the market and attract global investors.

This ‘Best Corporate Governance Award 2021’ award follows Zain recently been named winner in three categories at the annual Global Good Governance Awards 2021: Best of the Best in Diversity Award 2021; Leadership in Sustainability Award 2021; and Championship Award in Women Empowerment 2021.

The annual Global Good Governance Awards are organized by UK-based think tank Cambridge IFA and celebrate individuals, governments, public and private sector institutions and NGOs that exhibit governance and sustainability as their strategic priority. – TradeArabia News Service

COMMERCIAL NEWS

Agility sets $2.6bn interim in-kind dividend & $83m cash payout Mar 28, 2024 11:44 AM

Agility Public Warehousing Company has approved an interim cash...

Mezzan Holding turns around in FY2023, posts $37.5m net Mar 11, 2024 16:31 PM

Mezzan Holding a leading manufacturer and distributor of food beverage...

Huawei showcases high-end fashion-forward product lineup Feb 27, 2024 09:45 AM

Huawei has showcased a lineup of high-end fashion-forward flagship...

Burgan Bank expands private banking, wealth management Feb 6, 2024 15:11 PM

Burgan Bank says the Central Markets Authority (CMA) has granted...

GCC equity markets underperform in 2023: Kamco Invest Jan 2, 2024 09:54 AM

The GCC equity market index closed 2023 with one of the smallest...

KPMG MESAC revenues grow 22.4pc; global revenues hit $36bn Dec 26, 2023 09:01 AM

Amid economic and geopolitical slowdowns KPMG Middle East South...