Corporate Governance in the Middle East and North Africa (MENA)

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Second meeting of the Taskforce of MENA Stock Exchanges for Corporate Governance, 22 June, Istanbul

The second meeting of the Taskforce will be organised in the format of a high level regional roundtable, where heads and other representatives of regional exchanges are invited to participate, alongside regulators and relevant international and regional institutions. The meeting is kindly being hosted by the Istanbul Borsasi.

MENA countries should reform the governance of their SOEs / en francais
9 April 2012
Towards New Arrangements for State Ownership in the Middle East and North Africa, argues that improved corporate governance is key to reducing corruption and restoring confidence in public institutions in the aftermath of the Arab Spring.

4th meeting of the MENA-OECD Taskforce on Corporate Governance of SOEs
9-10 April, 2012 Kuwait City, Kuwait
This meeting was hosted by the Government of Kuwait under the patronage of the Prime Minister. Participants discussed the latest global and regional developments related to corporate governance of SOEs, specifically focusing on transparency and disclosure of state-owned enterprises in the MENA region.

The MENA-OECD Working Group on Corporate Governance was launched in 2005 in order to provide a platform for discussing corporate governance priorities in the MENA region, sharing best practices and evaluating their implementation. It is comprised of representatives of regional securities regulators, central banks, stock exchanges, ministries of Finance and Economy as well as other public and private sector actors interested in further promoting corporate governance in the region. Three regional taskforces have been formed under the umbrella of the Working Group to specifically address corporate governance of banks, state-owned enterprises and stock exchanges.

In 2005, the Working Group issued its first regional Survey on Corporate Governance, comparing legal frameworks and developments in the region. The survey also provided background for the development of recommendations set out in the Dubai Declaration which outlines key initiatives on the corporate governance of banks, state-owned enterprises and insolvency. In 2009, a Policy Brief on Corporate Governance of Banks was issued in Arabic and English. A regional publication on corporate governance of state-owned enterprises is currently under preparation, as is an update of the 2005 regional survey. In 2011, the Working Group was mandated by the Muscat Declaration to establish a Regional Taskforce of Stock Exchanges for Corporate Governance.

The Working Group works closely with regional institutions and initiatives such as:

Key documents