·Source: SouqData proprietary analysis
What this page covers
Rate GCC companies on minority shareholder protections: independence, elections, RPT transparency, dividends, ownership concentration.
SouqData covers 11 GCC + MENA exchanges (TDWL, DFM, ADX, QSE, BK, MSX, BHB, ASE, BIST, ISX, EGX). Coverage depth varies by exchange and data category — gaps are surfaced in the page's data displays rather than hidden. Underlying data refreshes daily via an automated pipeline; per-exchange ingestion runs on filing-driven cadences.
Shareholder Rights Scorecard
Minority shareholder protections scored across 6 dimensions for top 50 GCC companies by market cap.
Methodology
Board independence % — higher = better minority protection
Staggered vs block elections — staggered = better accountability
Related-party transaction disclosure — amounts + detail = better
Payout consistency — multi-year payers = better shareholder returns
Concentration — lower top holder % = better minority voice
Overall governance risk score — exchange code compliance
Rankings
| # | Company | Exchange | Grade | Score | Indep | RPT | Div | Own |
|---|---|---|---|---|---|---|---|---|
| 1 | Emaar Properties (P.J.S.C) | DFM | A | 90 | 25/25 | 20/20 | 15/15 | 10/15 |
| 2 | Emirates Telecom. Group Company (Etisalat Group) PJSC | ADX | A | 82 | 25/25 | 20/20 | 15/15 | 2/15 |
| 3 | Emirates NBD Bank (P.J.S.C) | DFM | A | 81 | 18/25 | 20/20 | 15/15 | 10/15 |
| 4 | Abu Dhabi Commercial Bank | ADX | A | 81 | 25/25 | 20/20 | 15/15 | 2/15 |
| 5 | Salik Company PJSC | DFM | A | 81 | 25/25 | 20/20 | 15/15 | 2/15 |
| 6 | International Holding Company PJSC | ADX | B | 79 | 25/25 | 20/20 | 5/15 | 10/15 |
| 7 | First Abu Dhabi Bank | ADX | B | 79 | 25/25 | 20/20 | 5/15 | 10/15 |
| 8 | Abu Dhabi National Energy Company | ADX | B | 75 | 25/25 | 20/20 | 5/15 | 5/15 |
| 9 | Qatar National Bank QPSC | QSE | B | 71 | 18/25 | 20/20 | 15/15 | 5/15 |
| 10 | Al Dar Properties | ADX | B | 71 | 25/25 | 20/20 | 0/15 | 5/15 |
| 11 | ADNOC Drilling Company PJSC | ADX | B | 68 | 25/25 | 20/20 | 5/15 | 2/15 |
| 12 | Qatar Islamic Bank | QSE | B | 67 | 5/25 | 20/20 | 15/15 | 10/15 |
| 13 | Saudi Telecom Co. | TDWL | B | 66 | 10/25 | 20/20 | 15/15 | 2/15 |
| 14 | ADNOC Logistics & Services plc | ADX | B | 66 | 25/25 | 20/20 | 5/15 | 2/15 |
| 15 | Dubai Islamic Bank PJSC | DFM | B | 65 | 5/25 | 20/20 | 15/15 | 10/15 |
| 16 | Ooredoo Q.P.S.C | QSE | B | 62 | 5/25 | 20/20 | 15/15 | 5/15 |
| 17 | Ooredoo Q.P.S.C | ADX | B | 62 | 5/25 | 20/20 | 15/15 | 5/15 |
| 18 | Saudi National Bank | TDWL | B | 61 | 10/25 | 20/20 | 15/15 | 2/15 |
| 19 | Alpha Dhabi Holding PJSC | ADX | B | 60 | 25/25 | 20/20 | 0/15 | 2/15 |
| 20 | Saudi Basic Industries Corp. | TDWL | B | 60 | 10/25 | 20/20 | 15/15 | 2/15 |
| 21 | Saudi Arabian Oil Co. | TDWL | C | 59 | 18/25 | 20/20 | 15/15 | 2/15 |
| 22 | ADNOC Gas plc | ADX | C | 58 | 10/25 | 15/20 | 10/15 | 2/15 |
| 23 | Al Rajhi Bank | TDWL | C | 58 | 10/25 | 20/20 | 15/15 | 10/15 |
| 24 | Two Point Zero Group PJSC | ADX | C | 58 | 25/25 | 20/20 | 0/15 | 0/15 |
| 25 | Abu Dhabi Islamic Bank | ADX | C | 56 | 18/25 | 20/20 | 0/15 | 5/15 |
| 26 | Industries of Qatar Co. | QSE | C | 54 | 5/25 | 15/20 | 15/15 | 5/15 |
| 27 | Emaar Development PJSC | DFM | C | 52 | 5/25 | 20/20 | 15/15 | 10/15 |
| 28 | Kuwait Finance House K.S.C. | BK | C | 51 | 10/25 | 20/20 | 15/15 | 0/15 |
| 29 | Saudi Arabian Mining Co. | TDWL | C | 51 | 10/25 | 20/20 | 0/15 | 2/15 |
| 30 | Mashreqbank PSC | DFM | C | 51 | 0/25 | 20/20 | 15/15 | 10/15 |
| 31 | Borouge PLC | ADX | C | 50 | 10/25 | 20/20 | 5/15 | 2/15 |
| 32 | National Bank of Kuwait K.S.C. | BK | C | 45 | 5/25 | 20/20 | 15/15 | 0/15 |
| 33 | Boubyan Bank K.S.C. | BK | C | 43 | 5/25 | 20/20 | 15/15 | 0/15 |
| 34 | Modon Holding PSC | ADX | C | 40 | 5/25 | 20/20 | 0/15 | 2/15 |
| 35 | Emirates Integrated Telecommunications Company PJSC | DFM | D | 36 | 0/25 | 5/20 | 15/15 | 10/15 |
| 36 | Abu Dhabi National Oil Company For Distribution | ADX | D | 30 | 5/25 | 20/20 | 0/15 | 2/15 |
| 37 | Turkiye Is Bankasi Anonim Sirketi Class B | BIST | D | 20 | 0/25 | 5/20 | 0/15 | 15/15 |
| 38 | Aselsan Elektronik Sanayi ve Ticaret A.S. Class B | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 39 | Enka Insaat ve Sanayi A.S. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 40 | Turkiye Garanti Bankasi Anonim Sirketi | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 41 | Turkiye Petrol Rafinerileri A.S. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 42 | Koc Holding A.S. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 43 | BIM Birlesik Magazalar A.S. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 44 | Turk Hava Yollari A.O. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 45 | Akbank T.A.S. | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 46 | Turkiye Is Bankasi Anonim Sirketi | BIST | F | 10 | 0/25 | 5/20 | 0/15 | 5/15 |
| 47 | QNB Bank AS | BIST | F | 7 | 0/25 | 5/20 | 0/15 | 2/15 |
| 48 | Ford Otomotiv Sanayi A.S. | BIST | F | 7 | 0/25 | 5/20 | 0/15 | 2/15 |
| 49 | Turkiye Is Bankasi Anonim Sirketi Class C | BIST | F | 7 | 0/25 | 5/20 | 0/15 | 2/15 |
| 50 | Destek Finans Faktoring A.S. | BIST | F | 5 | 0/25 | 5/20 | 0/15 | 0/15 |
This page presents results from a proprietary analytical model. The methodology, inputs, and assumptions are disclosed below. Model outputs suggest, indicate, or estimate — they do not confirm, prove, or recommend. Users should review the methodology, assess whether the assumptions apply to their situation, and consult a qualified financial adviser before acting on any information.
Unlock the full SouqData platform
Get unlimited access to 180+ insight pages, AI copilot, deep research reports, watchlists, portfolio tracking, and the full 210-column screener across 11 MENA exchanges.