5 July 2011 - OECD Conference Centre, Paris
The Middle East and North Africa region is home to over 1,300 listed companies. While the importance of good corporate governance in listed MENA companies is universally recognised, the role of stock exchanges in introducing and monitoring compliance with corporate governance standards has not previously been examined in the region.
Historically, stock exchanges all over the world have played an important role in the regulation of listed companies and the promotion of corporate governance practices among them. In 2009, the OECD released a report on the role of stock exchanges in corporate governance based on a review of ten select markets within OECD countries. Considering the interest of regional exchanges in this work, the OECD has created a regional Taskforce of Stock Exchanges.
The Taskforce, composed of regional stock exchanges and regulators, institutes of directors and other organisations working on promoting corporate governance in the region, met for the first time July 2011 to discuss the role of regional stock exchanges in promoting good corporate governance. To this end, a questionnaire had been disseminated to all regional exchanges, and results were presented during this first meeting. In the longer term, the Taskforce will seek to produce a regional comparative report analysing the role of stock exchanges in promoting and enforcing corporate governance standards.