Exchange Governance Comparison
Corporate governance analysis across 11 GCC and MENA exchanges. 921 companies scored. GCC-wide average governance score: 31.4/100.
Exchanges
11
Companies Scored
921
GCC Avg Score
31.4
Highest Avg
48.9 (BHB)
| Exchange | Governance Code | Avg Score | Scored | Independence | CEO/Chair Sep. | Avg Board Size |
|---|---|---|---|---|---|---|
| BHBBahrain BourseBahrain | CBB Corporate Governance Code | 48.9 | 16/17(94%) | 38.3% | 86% | 14.8 |
| MSXMuscat Securities MarketOman | CMA Code of Corporate Governance | 44.6 | 85/85(100%) | 86.3% | 100% | 5.4 |
| ADXAbu Dhabi Securities ExchangeUAE | SCA Corporate Governance Code | 38.5 | 61/98(62%) | 42.1% | 96% | 9.6 |
| DFMDubai Financial MarketUAE | SCA Corporate Governance Code | 35.0 | 57/70(81%) | 33.2% | 83% | 6.4 |
| EGXEgyptian ExchangeEgypt | Egyptian Corporate Governance Code | 32.3 | 4/252(2%) | 38.7% | 100% | 7.8 |
| QSEQatar Stock ExchangeQatar | QFMA Corporate Governance Code | 28.8 | 54/55(98%) | 35.8% | 95% | 12.1 |
| BKBoursa KuwaitKuwait | CMA Corporate Governance Rules | 28.4 | 128/136(94%) | 15.2% | 24% | 2.5 |
| TDWLSaudi Exchange (Tadawul)Saudi Arabia | CMA Corporate Governance Regulations | 24.1 | 381/385(99%) | 6.6% | 96% | 5.7 |
| ASEAmman Stock ExchangeJordan | JSC Corporate Governance Code | 18.6 | 134/205(65%) | 7.0% | 100% | 5.7 |
| ISXIraq Stock ExchangeIraq | ISC Corporate Governance Code | 15.0 | 1/102(1%) | 0.0% | - | 1.0 |
| BISTBorsa IstanbulTurkey | CMB Corporate Governance Principles | - | 0/568 | - | - | - |
Governance Grade Distribution by Exchange
BHB16 companies
C
D
F
MSX85 companies
C
D
ADX61 companies
C
D
F
DFM57 companies
C
D
F
EGX4 companies
D
F
QSE54 companies
D
F
BK128 companies
D
F
TDWL381 companies
F
ASE134 companies
F
ISX1 companies
F
ABCDF
Our model generates scores and ratings using fully disclosed methodologies based on available data. These are quantitative analytical tools — not recommendations. They may not capture all relevant factors, and past performance is not indicative of future results. Users should review the methodology, assess the inputs, and exercise independent judgement.
Sources: Exchange governance codes, SouqData governance scoring engine. Full data sources.