OECD / AUB / Hawkamah Webinar on Transparency and Disclosure in the Times of COVID-19
3rd June 2020
Transparency and disclosure are an integral part of a sound corporate governance framework, essential for improving the business climate and fostering competitiveness. Although MENA economies have endeavoured to improve their disclosure framework, new issues have emerged with the COVID-19 crisis, presenting unprecedented challenges. The Working Group’s 2019 report Corporate Governance in MENA: Building a Framework for Competitiveness and Growth includes a chapter on transparency and disclosure, which reflects discussions and inputs from focus group members over a period of 3 years. This chapter analyses the framework and practices in the region with policy options for reform. The purpose of this webinar was to examine the challenges the COVID-19 crisis poses to implementing these policy options and what adjustments are needed to adapt to the new situation. Participants also seized this opportunity to exchange good practices between countries.
First established in 2005, the top priority of the MENA-OECD Working Group on Corporate Governance is to build a regional knowledge platform on corporate governance that promotes equity market development for growth companies, enhances transparency and disclosure, improves the corporate governance of state-owned enterprises and supports women’s participation in corporate leadership in the Middle East and North Africa. Supporting implementation of international standards embodied in the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises, participants in the Working Group share experiences that are adapted to the region’s policy reform priorities. These discussions benefit from comparative analytical work that supports reforms at national and regional levels. This approach promotes regional co-operation and mutual understanding amongst international and regional public institutions as well as the private sector.
The Initiative’s strategic orientations and policy priorities for the period 2016-2020 were endorsed at the 2016 MENA-OECD Ministerial Conference, where Ministers and senior government officials endorsed the Tunis Declaration. This has opened a new phase for the MENA-OECD Working Group on Corporate Governance.
The Working Group brings together representatives of relevant government ministries and agencies, stock exchanges, investors, state ownership entities and corporate practitioners in the MENA region as well as their peers from around the world.
Corporate Governance in the MENA: Building a Framework for Competitiveness and Growth (2019)
This report assesses the corporate governance landscape in the MENA region by identifying challenges and proposing policy options for reform. The findings of the report are based on an analysis of policies and practices in four thematic areas: boosting access to finance and capital markets, improving transparency and disclosure, achieving gender balance in corporate leadership and enhancing the governance of state-owned enterprises in MENA.
Corporate Governance in MENA: Building a Framework for Competitiveness and Growth (2019)
OECD Survey of Corporate Governance Frameworks in the Middle East and North Africa (2019)
Corporate Governance in the Middle East and North Africa: Evidence and Priorities (2014)
Guide on Related Party Transactions in the MENA Region (2014) English | Arabic
Overview of Corporate Governance Codes and Guidelines in the Middle East and North Africa Region (2014)
SOEs in the Middle East and North Africa: Engines of Development and Competitiveness? (2013)
MENA-OECD Working Group on Corporate Governance Meeting, 17-18 April 2019, Paris Summary Note | الرسائل الرئيسة-
MENA-OECD Working Group on Corporate Governance Meeting, 4-5 July 2018, Portugal
MENA-OECD Working Group on Corporate Governance Meeting, 12-13 December 2017, Morocco
OECD Workshop on Corporate Governance of SOEs in the MENA Region, 24 May 2017, United Arab Emirates
MENA-OECD Ministerial Conference, 3-4 October 2016, Tunisia
For further information, please contact: Fianna Jurdant, Programme and Team Leader (Fianna.Jurdant@oecd.org)