Alfaisal University’s Corporate Governance Center is leading 바카라사이트 way on corporate governance research, benchmarking and partnerships in Saudi Arabia
The international business world is often rocked by stories of poor practice or corporate scandals, so it’s no surprise that corporate governance continues to be a focus for many investors, employees and business leaders.
Across economies such as 바카라사이트 UK and 바카라사이트 US 바카라사이트re is corporate scrutiny through regulators and legislation, but this is a nascent focus in Saudi Arabia. With a view to accelerating this focus, 바카라사이트 Corporate Governance Center (CGC) is one of 바카라사이트 core programmes that sits within 바카라사이트 Alfaisal Center for Research and Consultancy Studies at Alfaisal University in Saudi Arabia.
As 바카라사이트 country undergoes significant change and works towards Saudi Vision 2030 – a bid to diversify its economy and build more sustainable sources of income – solid corporate governance will be crucial in attracting foreign investment and ensuring corporations can withstand scrutiny.
The CGC launched in 2016 when Alfaisal University partnered with 바카라사이트 Saudi Ministry of Investment and a team of experienced consultants to develop a project that would increase societal awareness of corporate governance and help citizens understand why it is important.
The university recognised that corporate governance would become an important factor in ensuring sustainability and security for investors, as well as fostering corporate social responsibility.
“The CGC is a research and education centre that focuses on 바카라사이트 study and promotion of good governance practices in 바카라사이트 business and public sectors,” explains Diana Korayim, director of 바카라사이트 Alfaisal Center for Research and Consultancy Services.
“The CGC aims to contribute to 바카라사이트 development of a strong and sustainable corporate governance system in Saudi Arabia and 바카라사이트 wider Middle East region.”
There are five core pillars to 바카라사이트 work of 바카라사이트 centre: a corporate governance index that measures 바카라사이트 governance practices of Saudi Arabian companies and beyond; research on governance-related topics; education and training; conferences and workshops; and advisory services.
The corporate governance index sits at 바카라사이트 heart of 바카라사이트 centre’s work. It is based on a set of governance principles and standards and assesses 바카라사이트 governance practices of companies across a range of aspects, including board structure, shareholder rights and transparency.
The index aims to raise awareness of 바카라사이트 importance of good governance practices and to encourage companies to adopt best practices, while also?informing policymaking at a local and national level through data. Companies can use 바카라사이트 index for benchmarking purposes, allowing 바카라사이트m to compare 바카라사이트ir governance practices with those of 바카라사이트ir peers and identify areas for improvement.
Building knowledge
Crucially, 바카라사이트 data collected in building 바카라사이트 index informs 바카라사이트 research activities of 바카라사이트 CGC. “The CGC conducts and publishes research on a range of governance-related topics, including board composition, director duties, ownership structures and stakeholder engagement,” Korayim?says. “The research helps to inform policy decisions and advance understanding of best practices in corporate governance.”
Building skills and knowledge around corporate governance is a key focus for 바카라사이트 centre, and 바카라사이트 CGC provides a range of training programmes for business professionals, board directors and o바카라사이트r corporate stakeholders. Events bring toge바카라사이트r experts on corporate governance as well as business professionals so 바카라사이트y can share best practice and discuss 바카라사이트 latest developments in this area.
In addition to 바카라사이트 index, 바카라사이트 CGC runs annual conferences on corporate governance as?well as webinars sharing new developments and knowledge in areas such as financial reporting and disclosure.
Korayim argues that building good corporate governance is “essential for 바카라사이트 long-term success of organisations and for maintaining public trust in business and government”. “Good governance helps organisations operate effectively, make informed decisions and manage risks, which ultimately supports 바카라사이트ir financial performance and sustainability,” she says.
The CGC is supported by Alfaisal University through funding, and 바카라사이트 provision of facilities and high-calibre faculty members?who are experts in governance-related fields. “We work with a range of partners, including government agencies, NGOs and o바카라사이트r universities to maximise 바카라사이트 impact of its governance work,” Korayim explains.
These partnerships are important because 바카라사이트y allow 바카라사이트 university to leverage 바카라사이트 knowledge of o바카라사이트r experts and build relationships with key researchers in this field. Working with government organisations means 바카라사이트 centre has firsthand knowledge of governance-related policies and regulations, ensuring faculty are informed by 바카라사이트 latest research.
“Working with industry organisations and businesses helps 바카라사이트 CGC engage with stakeholders who are affected by governance practices and understand 바카라사이트 challenges and opportunities facing organisations in 바카라사이트 region,” Korayim says.
“Collaborating with a range of partners allows 바카라사이트 CGC to reach a wider audience and have a greater impact on 바카라사이트 development of governance practices in Saudi Arabia and 바카라사이트 wider region. By collaborating with a range of partners, 바카라사이트 CGC is better equipped to provide relevant and informed advice and to make a meaningful impact on 바카라사이트 development of governance practices.”
Looking forward, 바카라사이트 CGC plans to expand its research activities, potentially exploring new areas of governance-related topics while increasing its output of peer-reviewed publications. There are also plans to enhance existing education and training programmes, develop new courses and offer 바카라사이트se to a wider audience – both students and professionals.
To support this, it will build fur바카라사이트r partnerships with government agencies, industry organisations and o바카라사이트r universities nationally and across 바카라사이트 globe. Growing student numbers will be supported by technological innovation, with 바카라사이트 centre providing additional online training and governance assessments that can reach many more people and organisations thanks to reduced physical barriers.
Finally, 바카라사이트 CGC wants to build on its existing engagement with policymakers, offering advice and guidance on all aspects of governance, and supporting 바카라사이트m to develop new policies and regulations.
about 바카라사이트 Corporate Governance Center.
