Regarding Corporate Governance and the Best Practices in the Kingdom of Saudi Arabia for MBA Students MBA

An open meeting titled “Corporate Governance and The Best Practices in the Kingdom” was held on Monday night. The meeting was organized by the MBA program, and was supervised by program manager Dr. Najwa Samak in the women’s college. The meeting was with Mr. Ghassan Muhammad Al-Kashmeri, manager of Corporate Governance Practices Development Unit in the Capital Market Authority Department. The meeting targeted MBA program students (male and female) and their instructors. The guest discussed the matter of developing corporate of governance in the kingdom in detail, in which he illustrated the relevant regulations. For instance, Saudi companies regulations, principles of governing banking companies (Saudi Arabian Monetary Agency), and principles of governing insurance companies (Saudi Arabian Monetary Agency). He also talked about the provisions in the indicative list of corporate governance for the companies listed in the Capital Market Authority in the Kingdom. He ensured that these provisions were only indicative and not mandatory unless another system, list, or a Board decision sates otherwise. He added that companies must disclose in their report to the Board the provisions that they applied and the ones that they did not apply and the reasoning behind it. He also reviewed the shareholders and the General Assembly’s rights, disclosure policies, procedures, and supervisory regulations in a written manner according to the system and the basic functions of the Board of Directors, its composition, and its committees. Finally, he discussed the provisions and the details related to stakeholders. Such as, shareholders, Board of Directors, and their committees.