What this page covers
Board interlock analysis for GCC markets. Which directors serve on multiple listed boards? Interlock density, overboarded directors, and cross-exchange connections.
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.
Board Interlocks
Directors serving on multiple listed boards create governance interlocks. While interlocks can facilitate knowledge transfer, excessive cross-appointments may indicate conflicts of interest or spread director attention too thin.
Interlocked Directors
545
Company Pairs
581
Cross-Exchange
75
Overboarded (4+)
34
Max Boards
11
Most Connected Directors
Company Interlock Pairs
| Company A | Company B | Shared | Directors |
|---|---|---|---|
 GFH GFH Financial Group BSC | GFH GFH Financial Group BSC | 17 | Mohamed AlabbarMr. Hisham Ahmed AlrayesAbdulhamid Juma Al SadhanJamal Al GhaithMajed Al GhaithKhaleefa Bin Zayed Al NahyanSameer Al HajjajAhmed Al KhajaSalah Abdulla SharifMariam JowharyHammad YounasSahar QanatiMuneera Mohammed IsaBaha Al-MarzooqMohamed Yousif Ahmed AbdulsalamBhaskar MehtaPietro de Libero |
 KFH Kuwait Finance House K.S.C. | KFH Kuwait Finance House K.S.C. | 14 | Khaled Salem Al NassefMoaz Saud Al OsaimyHanan Faris Al FarisHamad Abdul Mohsen Al MarzouqNasser Abdullatif Al RoudanSalem Abdulaziz Al Saud Al SabahMazen Mohammad Mahmoud MeddahAbdulaziz Yaqoub Al NufaisiFahad Ali Mohammad Thunayan Al GhanimMohammad Nasser Al FouzanAhmad Ali Al QadiAbdullah Falah Al MudairisAlia Fahad Al SaqerRashid Mohammad Al Mearaj |
 CBQK Commercial Bank (Q.S.C.) | CBQK Commercial Bank (Q.S.C.) | 12 | |
 QIBK Qatar Islamic Bank | QIBK Qatar Islamic Bank | 11 | Jassim Bin Hamad Bin Jassim Bin Jaber Al ThaniAbdulhadi Mubarak H A Al-Shahwani Child 1Hassan Sultan N.A. Al-Noaimi Child 1Nasser Abdulla S M Al-ShareefMohammed Isa Hamad Al-Hassan Al-MohannadiJassim Faisal Qassim Thani Al ThaniSaeed A-hadi M.H.Alkhayareen Child 1Khalefa Saif S M Al-Mesalam Child 1Saeed A-Hadi M.H. Alkhayareen Child 4Hanoof Thani F Th Al-ThaniKhalefa Saif Al Mesalam |
 QNNS Qatar Navigation QSC | QNNS Qatar Navigation QSC | 10 | |
 SALAM Al Salam Bank B.S.C. |  SALAM Salam Bounian Development PJSC | 10 | Mr. Ammar Ali Mohamed JaberMr. Fahad Abdulqader Qassim Abdulla Al QassimMr. Mohamed Al Sayed Mohamed Ebraheem Al HashimiMs. Maha Abdulmajeed Ismaeel Ali Al FahimMr. Mohamed Al HashmiMr. Saeed bin Mohammed Al QassimiMrs. Maha Abdul Majeed Al-FahimH.E. Fahad AlQassimMr. Fareed Lutfi Ali Hussain Al HarmouziMr. Saeed Bin Mohammad Bin Ahmad Al Qassimi |
 DFM Dubai Financial Market (DFM) - PJSC |  DIC Dubai Investment (P.J.S.C) | 8 | |
 DHBK Doha Bank | DHBK Doha Bank | 8 | Mohammed Bin Falah Bin Jasim Al-ThaniAbdulrahman Ahmed Abdulrahman Yousuf Al-ObaidanNasser Khalid Khalifa Abdullah Al-AttiyahFahad Mohammed Jaber Mohammed Al ThaniAbdulrahman Fahad Faisal Thani Al-ThaniNasser Khalid Nasser Abdullah Al-MesnedAbdullah Ali Abdulrahman Al-AbdullaMr. Nasser Khalid Nasser Abdullah Al Misnad |
 6015 Americana Restaurants International PLC | AMR Americana Restaurants International PLC | 7 | |
 MCGS Medicare Group QSC | MCGS Medicare Group QSC | 6 | |
 QISI Qatar Islamic Insurance Group | QISI Qatar Islamic Insurance Group | 6 | |
 MAZAYA Al-Mazaya Holding Co. SAKC | MAZAYA Al-Mazaya Holding Co. SAKC | 6 | |
 AGILITY Agility Global PLC |  MKHZN Agility Public Warehousing Co. K.S.C. | 6 | |
MKHZN Agility Public Warehousing Co. K.S.C. | MKHZN Agility Public Warehousing Co. K.S.C. | 6 | |
 MARK AlRayan Bank | MARK AlRayan Bank | 6 | |
QIIK Qatar International Islamic Bank | QIIK Qatar International Islamic Bank | 5 | |
QISI Qatar Islamic Insurance Group | QIBK Qatar Islamic Bank | 5 | |
 IGRD Estithmar Holding Q.P.S.C | IGRD Estithmar Holding Q.P.S.C | 5 | |
 MRDS Mazaya Real Estate Development Company | MRDS Mazaya Real Estate Development Company | 5 | |
 QEWS Nebras Energy | QEWS Nebras Energy | 5 | |
 7211 Saudi Azm for Communication and Information Technology Co. |  9534 Bashaer Al Ghad | 4 | |
9534 Bashaer Al Ghad | 9534 Bashaer Al Ghad | 4 | |
 4145 Obeikan Glass Co |  9531 Tanami | 4 | |
 2288 Nofoth Food Products Co |  9556 Taleem REIT Fund | 4 | |
9556 Taleem REIT Fund | 9556 Taleem REIT Fund | 4 | |
 NIH National International Co. (Holding) (K.S.C.) | NIH National International Co. (Holding) (K.S.C.) | 4 | |
 QGRI Qatar General Insurance & Reinsurance Company Q.P.S.C. | QGRI Qatar General Insurance & Reinsurance Company Q.P.S.C. | 4 | |
 9520 Future Pipe Industries |  6016 Shatirah House Restaurant Burgerizzr Co. | 4 | |
 9525 Al Samaani Factory |  4148 Alwasail Industrial Company | 4 | |
9525 Al Samaani Factory | 9525 Al Samaani Factory | 4 | |
 NBB National Bank of Bahrain BSC | NBB National Bank of Bahrain BSC | 4 | |
 4324 Banan Real Estate Company |  9519 AHB | 4 | |
 EMAAR Emaar Properties (P.J.S.C) | EMAAR Emaar Properties (P.J.S.C) | 4 | |
 1211 Saudi Arabian Mining Co. | 1211 Saudi Arabian Mining Co. | 4 | |
 EMAARDEV Emaar Development PJSC | EMAAR Emaar Properties (P.J.S.C) | 3 | |
QISI Qatar Islamic Insurance Group | QIIK Qatar International Islamic Bank | 3 | |
 4144 Raoom trading Company |  6020 Al Gassim Investment Holding Co. | 3 | |
6020 Al Gassim Investment Holding Co. | 6020 Al Gassim Investment Holding Co. | 3 | |
 ENBD Emirates NBD Bank PJSC |  EMIRATESNBD Emirates NBD Bank (P.J.S.C) | 3 | |
9531 Tanami | 9531 Tanami | 3 | |
 8260 Gulf General Cooperative Insurance Co. | 8260 Gulf General Cooperative Insurance Co. | 3 | |
 QGTS Qatar Gas Transport Co. | QGTS Qatar Gas Transport Co. | 3 | |
 2180 Filing & Packing Materials Manufacturing Co. | 2180 Filing & Packing Materials Manufacturing Co. | 3 | |
 QAMC Qatar Aluminium Manufacturing Company |  IQCD Industries of Qatar Co. | 3 | |
 BRES Barwa Real Estate Co. | BRES Barwa Real Estate Co. | 3 | |
 WDAM Widam Food Company Q. S. C | WDAM Widam Food Company Q. S. C | 3 | |
 9585 Mulkia Investment Company |  4050 Saudi Automotive Services Co. | 3 | |
 QIGD Qatari Investors Group |  VFQS Vodafone Qatar QSC | 3 | |
 EXFB Capital Bank of Jordan | EXFB Capital Bank of Jordan | 3 | |
 DBIS Dlala Brokerage and Investment Holding Company | DBIS Dlala Brokerage and Investment Holding Company | 3 |
Academic Context
Research by Baumann & Hooper (2025) on the “Development and Political Effects of a Pan-Arab Corporate Elite” (Middle East Policy, 32(3), 79–90) identified 18 transnational interlocks among the 135 largest Arab firms using 2021 data. SouqData tracks 545 interlocked directors across 1,937 issuers on 11 exchanges in real-time, providing the operational data layer for what academics study retrospectively.
DOI: 10.1111/mepo.70001
This analysis is based on available data and disclosed methodology. Our models estimate outcomes using specific inputs and assumptions — the methodology is described on this page. Observations may not account for all relevant factors. This content is provided for educational and informational purposes only.
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