Exchange Governance Comparison
Corporate governance analysis across 11 GCC and MENA exchanges. 773 companies scored. GCC-wide average governance score: 37.1/100.
Exchanges
11
Companies Scored
773
GCC Avg Score
37.1
Highest Avg
60.9 (BHB)
| Exchange | Governance Code | Avg Score | Scored | Independence | CEO/Chair Sep. | Avg Board Size |
|---|---|---|---|---|---|---|
| BHBBahrain BourseBahrain | CBB Corporate Governance Code | 60.9 | 16/17(94%) | 28.6% | 100% | 28.0 |
| MSXMuscat Securities MarketOman | CMA Code of Corporate Governance | 57.9 | 85/85(100%) | - | - | - |
| ASEAmman Stock ExchangeJordan | JSC Corporate Governance Code | 37.4 | 9/193(5%) | 55.6% | 100% | 7.0 |
| ADXAbu Dhabi Securities ExchangeUAE | SCA Corporate Governance Code | 35.7 | 41/98(42%) | 34.8% | 100% | 7.8 |
| EGXEgyptian ExchangeEgypt | Egyptian Corporate Governance Code | 32.3 | 3/252(1%) | 41.2% | 100% | 5.7 |
| DFMDubai Financial MarketUAE | SCA Corporate Governance Code | 30.3 | 57/70(81%) | 9.8% | 55% | 2.6 |
| QSEQatar Stock ExchangeQatar | QFMA Corporate Governance Code | 28.9 | 54/55(98%) | 38.3% | 93% | 10.1 |
| BKBoursa KuwaitKuwait | CMA Corporate Governance Rules | 27.1 | 128/136(94%) | 14.5% | 13% | 1.7 |
| TDWLSaudi Exchange (Tadawul)Saudi Arabia | CMA Corporate Governance Regulations | 23.4 | 380/385(99%) | 3.2% | 96% | 5.4 |
| BISTBorsa IstanbulTurkey | CMB Corporate Governance Principles | - | 0/568 | - | - | - |
| ISXIraq Stock ExchangeIraq | ISC Corporate Governance Code | - | 0/102 | - | - | - |
Governance Grade Distribution by Exchange
BHB16 companies
C
MSX85 companies
C
ASE9 companies
D
F
ADX41 companies
C
D
F
EGX3 companies
D
F
DFM57 companies
C
D
F
QSE54 companies
D
F
BK128 companies
D
F
TDWL380 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.