Governance Risk Score
Live composite governance quality assessment for 591 GCC-listed companies across 8 dimensions. Scores update automatically as board data changes.
Companies Scored
591
of 1,937 issuers
Average Score
26/100
A + B Grade
1
score 65+
F Grade
519
score below 35
Data Completeness
36%
avg across 8 factors
Grade Distribution
Component Breakdown
Market-wide averages. Lower bars reveal systemic governance gaps.
Weakest: Committee Coverage at 1% of maximum.
Top 10best governance
Bottom 10highest risk
All Companies591 scored
| # | Company | Score | Grade |
|---|---|---|---|
| 1 |  ZAIN Mobile Telecommunications Company K.S.C.P | 68 | B |
| 2 |  BURJEEL BURJEEL HOLDINGS PLC | 62 | C |
| 3 |  FERTIGLB Fertiglobe plc | 60 | C |
| 4 |  AMR Americana Restaurants International PLC | 56 | C |
| 5 |  SALIK Salik Company PJSC | 56 | C |
| 6 |  ADNOCDRILL ADNOC Drilling Company PJSC | 53 | C |
| 7 |  ADNOCGAS ADNOC Gas plc | 53 | C |
| 8 |  KFH Kuwait Finance House K.S.C. | 51 | C |
| 9 | KFH Kuwait Finance House K.S.C. | 51 | C |
| 10 |  ADPORTS Abu Dhabi Ports Company PJSC | 50 | C |
| 11 |  4084 Derayah Financial Company | 48 | D |
| 12 |  EAND Emirates Telecom. Group Company (Etisalat Group) PJSC | 47 | D |
| 13 |  2330 Advanced Petrochemical Co. | 45 | D |
| 14 |  AWNIC Al Wathba National Insurance Co. | 45 | D |
| 15 |  BOJX Bank of Jordan PLC | 45 | D |
| 16 |  DANA DANA GAS PJSC | 45 | D |
| 17 |  HITS Hikma Pharmaceuticals PLC | 45 | D |
| 18 |  RAKPROP RAK Properties | 44 | D |
| 19 |  APOT Arab Potash Company PLC | 43 | D |
| 20 |  FAB First Abu Dhabi Bank | 43 | D |
| 21 |  MHAR Al Mahhar Holding Company QPSC | 43 | D |
| 22 |  QIMD Qatar Industrial Manufacturing Co. | 43 | D |
| 23 |  JONP Jordan National Bank | 42 | D |
| 24 |  LULU Lulu Retail Holdings PLC | 42 | D |
| 25 |  DIGITUS Digitus Group for Digital Infrastructure Data Centers & Communications KSCP | 41 | D |
| 26 |  EMIRATESNBD Emirates NBD Bank (P.J.S.C) | 41 | D |
| 27 |  FUTUREKID Future Kid Entertainment Real Estate Co. KSCC | 41 | D |
| 28 |  KFIC KFIC Invest K.S.C.P | 41 | D |
| 29 |  4002 Mouwasat Medical Services Co. | 40 | D |
| 30 |  4280 Kingdom Holding Co. | 40 | D |
| 31 |  8210 Bupa Arabia for Cooperative Insurance Co. | 40 | D |
| 32 |  ARBK Arab Bank PLC | 40 | D |
| 33 |  EMAAR Emaar Properties (P.J.S.C) | 40 | D |
| 34 |  IPG Independent Petroleum Group SAK | 40 | D |
| 35 |  JOPT Jordan Telecom Group (Orange) | 40 | D |
| 36 |  QFBQ Lesha Bank L.L.C | 40 | D |
| 37 |  1180 Saudi National Bank | 38 | D |
| 38 |  4013 Dr. Sulaiman Al-Habib Medical Services Group Co. | 38 | D |
| 39 |  BOROUGE Borouge PLC | 38 | D |
| 40 |  FALH Al Faleh Educational Holding Co. | 38 | D |
| 41 |  TAQA TAQA Arabia | 38 | D |
| 42 |  TAQA Abu Dhabi National Energy Company | 38 | D |
| 43 |  ADNIC Abu Dhabi National Insurance Company | 37 | D |
| 44 |  ADNOCDIST Abu Dhabi National Oil Company For Distribution | 37 | D |
| 45 |  AINS Al-Ahleia Insurance Co. | 36 | D |
| 46 |  ALOLA First Investment Co. K.S.C.P. | 36 | D |
| 47 |  BRES Barwa Real Estate Co. | 36 | D |
| 48 |  GISS Gulf International Services QSC | 36 | D |
| 49 |  MCGS Medicare Group QSC | 36 | D |
| 50 |  MENA MENA Real Estate Company KSC | 36 | D |
| 51 |  MENA Mena Touristic & Real Estate Investment | 36 | D |
| 52 |  MERS Almeera Consumer Goods Co. QSC | 36 | D |
| 53 |  NBK National Bank of Kuwait K.S.C. | 36 | D |
| 54 |  NLCS Alijarah Holding | 36 | D |
| 55 |  QNNS Qatar Navigation QSC | 36 | D |
| 56 |  SRE Salhia Real Estate Co. K.S.C. | 36 | D |
| 57 |  STC Kuwait Telecommunications Co. | 36 | D |
| 58 |  2222 Saudi Arabian Oil Co. | 35 | D |
| 59 |  7010 Saudi Telecom Co. | 35 | D |
| 60 |  ADCB Abu Dhabi Commercial Bank | 35 | D |
| 61 | ADNOC ADNOC Drilling Company PLC | 35 | D |
| 62 |  AGTHIA AGTHIA Group | 35 | D |
| 63 |  BOS Bank of Sharjah | 35 | D |
| 64 |  ETISALAT Emirates Telecommunications Group Company PJSC | 35 | D |
| 65 |  JOIB Jordan Islamic Bank | 35 | D |
| 66 |  JOPH Jordan Phosphate Mines Company PLC | 35 | D |
| 67 |  QNBK Qatar National Bank QPSC | 35 | D |
| 68 | RAK RAK Properties PJSC | 35 | D |
| 69 |  RAKCEC RAK Ceramics PJSC | 35 | D |
| 70 |  SIB Sharjah Islamic Bank | 35 | D |
| 71 |  TKFL Abu Dhabi National Takaful Co. | 35 | D |
| 72 |  UAB United Arab Bank | 35 | D |
| 73 | FERTIGLOBE Fertiglobe PLC | 34 | F |
| 74 |  1010 Riyad Bank | 33 | F |
| 75 |  1150 Alinma Bank | 33 | F |
| 76 |  1183 SHL Finance Co. | 33 | F |
| 77 |  1210 Basic Chemical Industries Co. | 33 | F |
| 78 |  2010 Saudi Basic Industries Corp. | 33 | F |
| 79 |  2030 Saudi Arabia Refineries Co. | 33 | F |
| 80 |  2082 ACWA Power | 33 | F |
| 81 |  2370 Middle East Specialized Cables Co. | 33 | F |
| 82 |  3060 Yanbu Cement Co. | 33 | F |
| 83 |  4008 Saudi Co. for Hardware | 33 | F |
| 84 |  4192 Al-Saif Stores for Development & Investment Co. | 33 | F |
| 85 |  4200 Aldrees Petroleum & Transport Services Co. | 33 | F |
| 86 | 6015 Americana Restaurants International PLC | 33 | F |
| 87 |  6090 Jazan Development and Investment Company | 33 | F |
| 88 |  9515 Fesh Fash Snack Food Production Co. | 33 | F |
| 89 |  9571 Munawla Cargo Company | 33 | F |
| 90 |  9586 Osool & Bakheet Investment Company | 33 | F |
| 91 |  9636 Al Kuzama Trading Company | 33 | F |
| 92 |  ABRIJ Al Wathba National Insurance Company PSC | 33 | F |
| 93 |  ADIB Abu Dhabi Islamic Bank | 33 | F |
| 94 |  ADIB Abu Dhabi Islamic Bank-Egypt | 33 | F |
| 95 |  ADNOCLS ADNOC Logistics & Services plc | 33 | F |
| 96 |  AKHI Al Khaleej Takaful Group | 33 | F |
| 97 |  ALDAR Al Dar Properties | 33 | F |
| 98 |  ALEC ALEC Holdings PJSC | 33 | F |
| 99 |  ESG ESG EMIRATES STALLIONS GROUP P.J.S.C | 33 | F |
| 100 |  IHGS Inma Holding Company | 33 | F |
| 101 |  JGBK Jordan Ahli Bank | 33 | F |
| 102 |  MCCS Mannai Corporation Q.P.S.C. | 33 | F |
| 103 |  NMDC NMDC Group PJSC | 33 | F |
| 104 |  ORAS Orascom Construction PLC | 33 | F |
| 105 | ORAS Orascom Construction Plc | 33 | F |
| 106 |  PARKIN Parkin Co. PJSC | 33 | F |
| 107 |  QCFS Qatar Cinema & Film Distribution Co. | 33 | F |
| 108 |  QEWS Nebras Energy | 33 | F |
| 109 |  QNCD Qatar National Cement Co. | 33 | F |
| 110 |  UDCD United Development Co. | 33 | F |
| 111 |  VFQS Vodafone Qatar QSC | 33 | F |
| 112 |  ALPHADHABI Alpha Dhabi Holding PJSC | 32 | F |
| 113 |  DHAFRA Al Dhafra Insurance Co. | 32 | F |
| 114 |  4190 Jarir Marketing Co. | 31 | F |
| 115 |  IQCD Industries of Qatar Co. | 31 | F |
| 116 |  QATI Qatar Insurance Co. | 31 | F |
| 117 |  1060 Saudi Awwal Bank | 30 | F |
| 118 |  1140 Bank Albilad | 30 | F |
| 119 |  2290 Yanbu National Petrochemical Co. | 30 | F |
| 120 |  4007 Al Hammadi Holding | 30 | F |
| 121 |  4018 Almoosa Health Co. | 30 | F |
| 122 |  4030 National Shipping Co. of Saudi Arabia | 30 | F |
| 123 |  4051 Baazeem Trading Co. | 30 | F |
| 124 |  4210 Saudi Research and Media Group | 30 | F |
| 125 |  4327 Alramz Real Estate Co. | 30 | F |
| 126 |  8120 Gulf Union Alahlia Cooperative Insurance Co. | 30 | F |
| 127 |  AHCS Aamal Company Q.S.C. | 30 | F |
| 128 |  ERES Ezdan Holding Group | 30 | F |
| 129 |  GWCS Gulf Warehousing Co. | 30 | F |
| 130 |  MRDS Mazaya Real Estate Development Company | 30 | F |
| 131 |  WAHA Waha Capital Company | 30 | F |
| 132 |  YAHSAT Al Yah Satellite Communications Company PJSC | 30 | F |
| 133 |  4194 Marketing Home Group for Trading Co. | 29 | F |
| 134 |  9557 Edarat Communication and Information Technology Co. | 29 | F |
| 135 |  1020 Bank Aljazira | 28 | F |
| 136 |  1030 Saudi Investment Bank | 28 | F |
| 137 |  1050 Banque Saudi Fransi | 28 | F |
| 138 |  1080 Arab National Bank | 28 | F |
| 139 |  1201 Takween Advanced Industries Co. | 28 | F |
| 140 |  1212 Astra Industrial Group | 28 | F |
| 141 |  1213 Naseej International Trading Co. | 28 | F |
| 142 |  1302 Bawan Co. | 28 | F |
| 143 |  1322 Al Masane Al Kobra Mining Co. | 28 | F |
| 144 |  1830 Leejam Sports Co. | 28 | F |
| 145 |  1831 Maharah Human Resources Co. | 28 | F |
| 146 |  2040 Saudi Ceramic Co. | 28 | F |
| 147 |  2050 Savola Group | 28 | F |
| 148 |  2070 Saudi Pharmaceutical Industries & Medical Appliances Corp. | 28 | F |
| 149 |  2080 National Gas & Industrialization Co. | 28 | F |
| 150 |  2090 National Gypsum Co. | 28 | F |
| 151 |  2140 AYYAN Investment Company | 28 | F |
| 152 |  2150 National Co. for Glass Industries | 28 | F |
| 153 |  2180 Filing & Packing Materials Manufacturing Co. | 28 | F |
| 154 |  2190 Sustained Infrastructure Holding Company | 28 | F |
| 155 |  2200 Arabian Pipes Co. | 28 | F |
| 156 |  2220 National Metal Manufacturing & Casting Co. | 28 | F |
| 157 |  2230 Saudi Chemical Co. | 28 | F |
| 158 |  2300 Saudi Paper Manufacturing Co. | 28 | F |
| 159 |  2310 Sahara International Petrochemical Company | 28 | F |
| 160 |  2320 Al-Babtain Power & Telecommunication Co. | 28 | F |
| 161 |  2360 Saudi Vitrified Clay Pipes Co. | 28 | F |
| 162 |  3003 City Cement Co. | 28 | F |
| 163 |  3007 Zahrat Al Waha For Trading Co. | 28 | F |
| 164 |  3010 Arabian Cement Co. | 28 | F |
| 165 |  3020 Yamamah Saudi Cement Co. | 28 | F |
| 166 |  3030 Saudi Cement Co. | 28 | F |
| 167 |  4006 Saudi Marketing Co. | 28 | F |
| 168 |  4050 Saudi Automotive Services Co. | 28 | F |
| 169 |  4061 Anaam International Holding Group | 28 | F |
| 170 |  4080 Sinad Holding Company | 28 | F |
| 171 |  4081 Nayifat Finance Company | 28 | F |
| 172 |  4090 Taiba Investment Company | 28 | F |
| 173 |  4110 Batic Investments and Logistics Co. | 28 | F |
| 174 |  4130 Saudi Darb Investment Co. | 28 | F |
| 175 |  4148 Alwasail Industrial Company | 28 | F |
| 176 |  4161 BinDawood Holding Company | 28 | F |
| 177 |  4180 Fitaihi Holding Group | 28 | F |
| 178 |  4191 Abdullah Saad Mohammed Abo Moati for Bookstores Co. | 28 | F |
| 179 |  4290 Al Khaleej Training & Education Co. | 28 | F |
| 180 |  4321 Arabian Centres Co. | 28 | F |
| 181 |  6001 Halwani Brothers Company | 28 | F |
| 182 |  6016 Shatirah House Restaurant Burgerizzr Co. | 28 | F |
| 183 |  6020 Al Gassim Investment Holding Co. | 28 | F |
| 184 |  6040 Tabuk Agricultural Development Co. | 28 | F |
| 185 |  7040 Etihad Atheeb Telecommunication Co. | 28 | F |
| 186 |  7201 Arab Sea Information Systems Co. | 28 | F |
| 187 |  8020 Malath Cooperative Insurance Co. | 28 | F |
| 188 |  8150 Allied Cooperative Insurance Group | 28 | F |
| 189 |  8160 Arabia Insurance Cooperative Co. | 28 | F |
| 190 |  8300 Wataniya Insurance Co. | 28 | F |
| 191 |  9513 Watani Iron Steel Co | 28 | F |
| 192 |  9520 Future Pipe Industries | 28 | F |
| 193 |  9524 Advance International Company for Communication and Information Technology | 28 | F |
| 194 |  9534 Bashaer Al Ghad | 28 | F |
| 195 |  9535 Ladun Investment Company | 28 | F |
| 196 |  9536 Arabian Food & Dairy Factories Co. | 28 | F |
| 197 |  9538 Naseej for Technology Co. | 28 | F |
| 198 |  9539 Aqaseem Factory for Chemicals and Plastics Co. | 28 | F |
| 199 |  9547 Rawasi Al Bina Investment Co. | 28 | F |
| 200 |  9555 Dirab | 28 | F |
| 201 |  9556 Taleem REIT Fund | 28 | F |
| 202 |  9558 Alqemam for Computer Systems Co. | 28 | F |
| 203 |  9561 Knowledge Net Company | 28 | F |
| 204 |  9567 Ghida Al-Sultan Co. | 28 | F |
| 205 |  9569 Almuneef Co. for Trading Industry Agriculture & Contraracting | 28 | F |
| 206 |  9574 Professional Medical Expertise Co. | 28 | F |
| 207 |  9579 Intelligent Oud Company For Trading | 28 | F |
| 208 |  9584 Riyal Investment and Development Company | 28 | F |
| 209 |  9585 Mulkia Investment Company | 28 | F |
| 210 |  9591 View United Real Estate Development Company | 28 | F |
| 211 |  9592 Almujtama Alraida Medical Co. | 28 | F |
| 212 |  9598 Al Mohafaza Company for Education | 28 | F |
| 213 |  9600 Qomel Company | 28 | F |
| 214 |  9627 Twareat Medical Care Co. | 28 | F |
| 215 |  9631 Hedab Alkhaleej Trading Co. | 28 | F |
| 216 |  9632 Future Vision for Health Training Co. | 28 | F |
| 217 |  9635 Dkhoun National Trading Co. | 28 | F |
| 218 |  9647 Wajd Life Trading Co. | 28 | F |
| 219 |  DHBK Doha Bank | 28 | F |
| 220 |  IGRD Estithmar Holding Q.P.S.C | 28 | F |
| 221 |  MARK AlRayan Bank | 28 | F |
| 222 |  MKDM Mekdam Holding Group Company | 28 | F |
| 223 |  MKHZN Agility Public Warehousing Co. K.S.C. | 28 | F |
| 224 | MKHZN Agility Public Warehousing Co. K.S.C. | 28 | F |
| 225 |  ORDS Ooredoo Q.P.S.C | 28 | F |
| 226 |  ORDS OOREDOO | 28 | F |
| 227 |  SIIS Salam International Investment Ltd. | 28 | F |
| 228 |  1120 Al Rajhi Bank | 26 | F |
| 229 |  1211 Saudi Arabian Mining Co. | 26 | F |
| 230 |  2081 Alkhorayef Water & Power Technologies | 26 | F |
| 231 |  4072 MBC Group Company | 26 | F |
| 232 |  6017 Jahez International Company for Information Systems Technology | 26 | F |
| 233 |  7204 Perfect Presentation for Commercial Services Co. | 26 | F |
| 234 |  9546 Naba Alsaha Medical Services Co. | 26 | F |
| 235 |  9595 WSM for Information Technology Co. | 26 | F |
| 236 |  9613 Shalfa Facilities Management Co. | 26 | F |
| 237 |  9644 Naf Company for Feed for Industry | 26 | F |
| 238 |  9649 Jamjoom Fashion Trading Co. | 26 | F |
| 239 |  ACICO ACICO Industries Co. (K.S.C) | 26 | F |
| 240 |  CBQK Commercial Bank (Q.S.C.) | 26 | F |
| 241 |  DBIS Dlala Brokerage and Investment Holding Company | 26 | F |
| 242 |  DIB Dubai Islamic Bank PJSC | 26 | F |
| 243 |  FACIL Commercial Facilities Co. SAK | 26 | F |
| 244 |  GFH GFH Financial Group BSC | 26 | F |
| 245 | GFH GFH Financial Group BSC | 26 | F |
| 246 | GFH GFH Financial Group BSC | 26 | F |
| 247 | GFH GFH Financial Group B.S.C | 26 | F |
| 248 |  KAMCO KAMCO Investment Company K.S.C.P. | 26 | F |
| 249 |  KHOT Kuwait Hotels Co. SAK | 26 | F |
| 250 |  MARKAZ Kuwait Financial Centre KPSC | 26 | F |
| 251 |  MRC Metal & Recycling Co. K.S.C.C. | 26 | F |
| 252 |  NIH National International Co. (Holding) (K.S.C.) | 26 | F |
| 253 | NIH National International Co. (Holding) (K.S.C.) | 26 | F |
| 254 |  NINV National Investments Co. KSC Closed | 26 | F |
| 255 |  QGMD Qatar German For Medical Devices | 26 | F |
| 256 |  QIBK Qatar Islamic Bank | 26 | F |
| 257 | QIIK Qatar International Islamic Bank | 26 | F |
| 258 |  QISI Qatar Islamic Insurance Group | 26 | F |
| 259 |  SANAM Sanam Group Holding Co K.S.C.C. | 26 | F |
| 260 |  TQES Qatar Electronic Systems Co. (Techno Q) QPSC | 26 | F |
| 261 |  WDAM Widam Food Company Q. S. C | 26 | F |
| 262 |  1111 Saudi Tadawul Group Holding Company | 25 | F |
| 263 |  1182 Amlak International for Real Estate Finance Company | 25 | F |
| 264 |  1214 Al Hassan Ghazi Ibrahim Shaker Co. | 25 | F |
| 265 |  1301 United Wire Factories Co. | 25 | F |
| 266 |  1810 Seera Holding Group | 25 | F |
| 267 |  1835 Tamkeen Human Resources Company | 25 | F |
| 268 |  2100 Wafrah for Industry & Development | 25 | F |
| 269 |  2110 Saudi Cable Co. | 25 | F |
| 270 |  2120 Saudi Advanced Industries Co. | 25 | F |
| 271 |  2160 Saudi Arabian Amiantit Co. | 25 | F |
| 272 |  2240 Advanced Building Industries Co. | 25 | F |
| 273 |  2280 Almarai Company | 25 | F |
| 274 |  2288 Nofoth Food Products Co | 25 | F |
| 275 |  2340 ARTEX Industrial Investment Company | 25 | F |
| 276 |  3002 Najran Cement Co. | 25 | F |
| 277 |  3005 Umm Al-Qura Cement Company | 25 | F |
| 278 |  3008 Al Kathiri Holding Company | 25 | F |
| 279 |  4003 United Electronics Co. | 25 | F |
| 280 |  4004 Dallah Healthcare Co. | 25 | F |
| 281 |  4009 Middle East Healthcare Company | 25 | F |
| 282 |  4017 Dr. Soliman Abdul Kader Fakeeh Hospital Co. | 25 | F |
| 283 |  4021 Canadian Medical Center Co. | 25 | F |
| 284 |  4082 Morabaha Marina Financing Company | 25 | F |
| 285 |  4141 Al-Omran Industrial & Trading Co. | 25 | F |
| 286 |  4142 Riyadh Cables Group Co. | 25 | F |
| 287 |  4146 Gas Arabian Services Co | 25 | F |
| 288 |  4170 Tourism Enterprise Co. | 25 | F |
| 289 |  4220 Emaar, The Economic City | 25 | F |
| 290 |  4250 Jabal Omar Development Co. | 25 | F |
| 291 |  4292 Ataa Educational Company | 25 | F |
| 292 |  4300 Dar Al Arkan Real Estate Development Co. | 25 | F |
| 293 |  6002 Herfy Food Services Co. | 25 | F |
| 294 |  7020 Etihad Etisalat Co. | 25 | F |
| 295 |  7211 Saudi Azm for Communication and Information Technology Co. | 25 | F |
| 296 |  8030 Mediterranean & Gulf Cooperative Insurance & Reinsurance Co. | 25 | F |
| 297 |  8040 Mutakamela Insurance Company | 25 | F |
| 298 |  8050 SALAMA Cooperative Insurance Co. | 25 | F |
| 299 |  8060 Walaa Cooperative Insurance Co. | 25 | F |
| 300 |  8200 Saudi Reinsurance Company | 25 | F |
| 301 |  8310 Amana Cooperative Insurance Co. | 25 | F |
| 302 |  8313 Rasan Information Technology Co. | 25 | F |
| 303 |  9514 Mohammed Hassan Al Naqool Sons Co. Ltd | 25 | F |
| 304 |  9521 INMAR Company For Real Estate Development and Investment | 25 | F |
| 305 |  9525 Al Samaani Factory | 25 | F |
| 306 |  9527 AME Company for Medical Supplies | 25 | F |
| 307 |  9540 National Environmental Recycling Co. | 25 | F |
| 308 |  9545 International Human Resources Company | 25 | F |
| 309 |  9549 Abdulaziz and Mansour Ibrahim Albabtin Co. | 25 | F |
| 310 |  9553 Molan Steel Company | 25 | F |
| 311 |  9564 Horizon Food Company | 25 | F |
| 312 |  9568 Mayar Holding Co. | 25 | F |
| 313 |  9580 Al Rashid Industrial Co | 25 | F |
| 314 |  9587 Lana Medical Co. | 25 | F |
| 315 |  9588 Riyadh Steel Company | 25 | F |
| 316 |  9590 Armah Sports Company | 25 | F |
| 317 |  9608 Al Ashghal Almoysra Company | 25 | F |
| 318 |  9610 First Avenue Real Estate Development Company | 25 | F |
| 319 |  9615 Mufeed Company | 25 | F |
| 320 |  9618 Al-Fakhera Men Tailoring Co. | 25 | F |
| 321 |  9624 Alshehili Company for metal industries | 25 | F |
| 322 |  9637 Axelerated Solutions for Information & Communication Tech | 25 | F |
| 323 |  9650 Sahat Almajd Trading Co. | 25 | F |
| 324 |  9653 Khaled Dhafer & Bros for Logistic Services Co. | 25 | F |
| 325 |  ABQK AHLI BANK Q.P.S.C. | 25 | F |
| 326 |  AGILITY Agility Global PLC | 25 | F |
| 327 |  ALG Ali Alghanim Sons Automotive Company | 25 | F |
| 328 |  DOHI Doha Insurance Co. | 25 | F |
| 329 |  IHC International Holding Company PJSC | 25 | F |
| 330 |  QIGD Qatari Investors Group | 25 | F |
| 331 |  QOIS Qatar Oman Investment Co. | 25 | F |
| 332 |  2060 National Industrialization Co. | 23 | F |
| 333 |  4100 Makkah Construction & Development Co. | 23 | F |
| 334 |  8012 AlJazira Takaful Taawuni Co. | 23 | F |
| 335 |  8230 Al Rajhi Co. for Cooperative Insurance | 23 | F |
| 336 |  9531 Tanami | 23 | F |
| 337 |  9625 Itmam Consultancy Co. | 23 | F |
| 338 |  DFM Dubai Financial Market (DFM) - PJSC | 23 | F |
| 339 |  JTEL Jordan Telecom | 23 | F |
| 340 |  SALAM Salam Bounian Development PJSC | 23 | F |
| 341 |  SALAM Al Salam Bank B.S.C. | 23 | F |
| 342 |  UNIONCOOP Union Coop | 23 | F |
| 343 |  1202 Middle East Paper Co. | 21 | F |
| 344 |  1324 Saleh Abdulaziz Al Rashed & Sons Co. | 21 | F |
| 345 |  1832 Sadr Logistics Co. | 21 | F |
| 346 |  2020 SABIC Agri-Nutrients Co. | 21 | F |
| 347 |  2130 Saudi Industrial Development Co. | 21 | F |
| 348 |  2170 Alujain Corporation | 21 | F |
| 349 |  2210 Nama Chemicals | 21 | F |
| 350 |  2282 Naqi Water Company | 21 | F |
| 351 |  2382 Ades Holding Company | 21 | F |
| 352 |  3004 Northern Region Cement Co. | 21 | F |
| 353 |  4001 Abdullah Al Othaim Markets Co. | 21 | F |
| 354 |  4011 Lazurde Company for Jewelry | 21 | F |
| 355 |  4012 Thob Al-Aseel Co. | 21 | F |
| 356 |  4014 Scientific and Medical Equipment House | 21 | F |
| 357 |  4015 Jamjoom Pharmaceuticals Factory Co. | 21 | F |
| 358 |  4071 Arabian Contracting Services Co. | 21 | F |
| 359 |  4083 United International Holding Co. | 21 | F |
| 360 |  4140 Saudi Industrial Export Co. | 21 | F |
| 361 |  4143 Al Taiseer Group Talco Industrial Co. | 21 | F |
| 362 |  4144 Raoom trading Company | 21 | F |
| 363 |  4165 Al Majed for Oud Company | 21 | F |
| 364 |  4193 Nice One Beauty Digital Marketing Co. | 21 | F |
| 365 |  4261 Theeb Rent a Car Company | 21 | F |
| 366 |  4264 Flynas Co. | 21 | F |
| 367 |  4291 National Co. for Learning & Education | 21 | F |
| 368 |  4310 Knowledge Economic City | 21 | F |
| 369 |  4323 Sumou Real Estate Co. | 21 | F |
| 370 |  4324 Banan Real Estate Company | 21 | F |
| 371 |  4325 Umm Al Qura for Development and Construction Company | 21 | F |
| 372 |  4326 Dar Al Majed Real Estate Co. | 21 | F |
| 373 |  6004 CATRION Catering Holding Company | 21 | F |
| 374 |  6012 Raydan Food Co. | 21 | F |
| 375 |  6018 Sport Clubs Co. | 21 | F |
| 376 |  6050 Saudi Fisheries Co. | 21 | F |
| 377 |  6060 Ash-Sharqiyah Development Co. | 21 | F |
| 378 |  7030 Mobile Telecommunications Company Saudi Arabia | 21 | F |
| 379 |  7200 Al Moammar Information Systems Company | 21 | F |
| 380 |  7203 Elm Company | 21 | F |
| 381 |  8070 Arabian Shield Cooperative Insurance Co. | 21 | F |
| 382 |  8190 United Cooperative Assurance Co. | 21 | F |
| 383 |  8250 Gulf Insurance Group - GIG | 21 | F |
| 384 |  8260 Gulf General Cooperative Insurance Co. | 21 | F |
| 385 |  9510 National Building & Marketing Co. | 21 | F |
| 386 |  9517 MOBI Industry Company | 21 | F |
| 387 |  9518 Leaf Global Environmental Services | 21 | F |
| 388 |  9519 AHB | 21 | F |
| 389 |  9522 Alhasoob Co. | 21 | F |
| 390 |  9523 Group Five Pipe Saudi Ltd. | 21 | F |
| 391 |  9529 Hamat Holding | 21 | F |
| 392 |  9532 Al-Jouf Healthy Water Bottling Company | 21 | F |
| 393 |  9533 Saudi Parts Center Co | 21 | F |
| 394 |  9537 Amwaj International Co | 21 | F |
| 395 |  9541 Academy of Learning Co. | 21 | F |
| 396 |  9542 Arabian Food Industries (Domty) | 21 | F |
| 397 |  9543 Saudi Networkers Services Co., Ltd. | 21 | F |
| 398 |  9544 Future Care Trading Co. | 21 | F |
| 399 |  9552 Saudi Top for Trading Company | 21 | F |
| 400 |  9559 Balady Poultry Trading Co. | 21 | F |
| 401 |  9560 WAJA company | 21 | F |
| 402 |  9565 Meyar Company | 21 | F |
| 403 |  9566 Saudi Lime Industries Company | 21 | F |
| 404 |  9570 Tam Development Company | 21 | F |
| 405 |  9572 Al Razi Medical Company | 21 | F |
| 406 |  9575 Marble Design Company | 21 | F |
| 407 |  9577 DAR ALMARKABAH For Renting Cars Company | 21 | F |
| 408 |  9578 Atlas Elevators General Trading and Contracting Company | 21 | F |
| 409 |  9581 Clean life company | 21 | F |
| 410 |  9589 Fad International Company | 21 | F |
| 411 |  9593 Pan Gulf Marketing Co. | 21 | F |
| 412 |  9594 Almodawat Specialized Medical Hospital Company | 21 | F |
| 413 | 9597 Leaf Global Environmental Services Company | 21 | F |
| 414 |  9599 Taqat Mineral Trading Co | 21 | F |
| 415 |  9601 Mohammed Hadi Al Rasheed and Partners Co. | 21 | F |
| 416 |  9603 Horizon Educational Company | 21 | F |
| 417 |  9605 Neft Alsharq Co. for Chemical Industries | 21 | F |
| 418 |  9606 Altharwah Albashariyyah Co. | 21 | F |
| 419 |  9609 Naas Petrol Factory Company | 21 | F |
| 420 |  9611 United Arab Float Glass Co. | 21 | F |
| 421 |  9612 SAMA Healthy Water Factory company | 21 | F |
| 422 |  9614 Purity For Information Technology Co. | 21 | F |
| 423 |  9619 Multi Business Group for Projects Company | 21 | F |
| 424 |  9620 Balsm Alofoq Medical Company | 21 | F |
| 425 |  9621 Digital Research Company | 21 | F |
| 426 |  9622 Shmoh Almadi Co. | 21 | F |
| 427 |  9623 Albattal Factory for Chemical Industries Co. | 21 | F |
| 428 |  9628 Lamasat Company Limited | 21 | F |
| 429 |  9630 Ratio Specialty Company For Trading | 21 | F |
| 430 |  9634 Adeer Real Estate Co. | 21 | F |
| 431 |  9639 Anmat Technology for Trading Co. | 21 | F |
| 432 |  9640 ASAS Makeen Real Estate Development and Investment Company | 21 | F |
| 433 |  9641 Hawyia Auctions Co. | 21 | F |
| 434 |  9642 Time Entertainment Co. | 21 | F |
| 435 |  9648 Hamad Mohammed Bin Saedan Real Estate Co. | 21 | F |
| 436 |  9651 Abdulaziz Altwijri Trading Co. | 21 | F |
| 437 |  ABAR Burgan Co. for Well Drilling, Trading & Maintenance SAK | 21 | F |
| 438 |  AIRARABIA Air Arabia PJSC | 21 | F |
| 439 |  ALANSARI Al Ansari Financial Services PJSC | 21 | F |
| 440 |  ALAQARIA Kuwait Real Estate Holding Co. KSHC | 21 | F |
| 441 |  ALMANAR Al Manar Financing & Leasing Company K.S.C. | 21 | F |
| 442 |  ALSAFAT Al Safat Investment Co. KSCC | 21 | F |
| 443 |  ALSALAMSUDAN Al Salam Bank Sudan | 21 | F |
| 444 |  ALTIJARIA Commercial Real Estate Co. | 21 | F |
| 445 |  AMANAT Amanat Holdings PJSC | 21 | F |
| 446 |  ARABREC Al-Arabiya Real Estate Co. | 21 | F |
| 447 |  ARKAN Arkan Al-Kuwait Real Estate Co. (K.S.C.) | 21 | F |
| 448 |  ARZAN Arzan Financial Group for Financing and Investment (KPSC) | 21 | F |
| 449 |  ASC Automated Systems Co. KSCC | 21 | F |
| 450 |  ATC Advanced Technology Co. | 21 | F |
| 451 |  BEYOUT Beyout Holding Company K.S.C | 21 | F |
| 452 |  BHMCAPITAL BHM Capital Financial Services P.S.C | 21 | F |
| 453 |  BOUBYAN Boubyan Bank K.S.C. | 21 | F |
| 454 |  CABLE Gulf Cables and Electrical Industries Group Co.(K.S.C.P) | 21 | F |
| 455 |  CGC Combined Group Contracting Co. SAKC | 21 | F |
| 456 |  COAST Coast Investment & Development Co. K.S.C.C. | 21 | F |
| 457 |  DALQANRE Dalqan Real Estate Co. KSC | 21 | F |
| 458 |  DEWA Dubai Electricity and Water Authority (PJSC) | 21 | F |
| 459 |  DIC Dubai Investment (P.J.S.C) | 21 | F |
| 460 |  DTC Dubai Taxi Co. PJSC | 21 | F |
| 461 |  DUBK Dukhan Bank Q.P.S.C. | 21 | F |
| 462 |  EQUIPMENT Equipment Holding Co. KSCP | 21 | F |
| 463 |  FTI First Takaful Insurance Co. KSCC | 21 | F |
| 464 |  GFC Gulf Franchising Holding Co. Kscc | 21 | F |
| 465 |  IFA International Financial Advisors Holding K.P.S.C. | 21 | F |
| 466 | IFA International Financial Advisors Holding K.P.S.C. | 21 | F |
| 467 |  KCEM Kuwait Cement Company K.P.S.C. | 21 | F |
| 468 |  KCPC Kuwait Co for Process Plant Construction & Contracting KSC | 21 | F |
| 469 |  KIB Kuwait International Bank KSC | 21 | F |
| 470 |  KRE Kuwait Real Estate Company | 21 | F |
| 471 |  MARAKEZ Real Estate Trade Centers Co. KSC | 21 | F |
| 472 |  MEZA Meeza QSTP LLC | 21 | F |
| 473 |  MODON Modon Holding PSC | 21 | F |
| 474 |  MUBARRAD Mubarrad Holding Co. (K.S.C.C) | 21 | F |
| 475 |  MUNTAZAHAT Kuwait Resorts Company K.P.S.C. | 21 | F |
| 476 |  NAHO Naeem Holding Co. | 21 | F |
| 477 | NAHO Naeem Holding Co. | 21 | F |
| 478 |  NAPESCO National Petroleum Services Co. KSCC | 21 | F |
| 479 |  NCC National Cement Company PSC | 21 | F |
| 480 |  NCCI National Consumer Holding Company | 21 | F |
| 481 |  NICBM National Industries Company for Building Materials | 21 | F |
| 482 |  NRE National Real Estate Co. S.A.K. | 21 | F |
| 483 |  OSOUL Osoul Investment Co. (K.S.C.) Closed | 21 | F |
| 484 |  OULAFUEL Oula Fuel Marketing Company K.S.C. | 21 | F |
| 485 |  PAPCO Palms Agro Production Co. KSCC | 21 | F |
| 486 |  PAPER Shuaiba Industrial Co. (K.S.C) | 21 | F |
| 487 |  QGRI Qatar General Insurance & Reinsurance Company Q.P.S.C. | 21 | F |
| 488 |  QGTS Qatar Gas Transport Co. | 21 | F |
| 489 |  QIC Umm Al Qaiwain General Investment Co. P.S.C | 21 | F |
| 490 |  QIC Umm Al-Qaiwain General Investments Co PSC | 21 | F |
| 491 |  QLMI QLM Life & Medical Insurance Company QPSC | 21 | F |
| 492 |  RASIYAT Rasiyat Holding Company | 21 | F |
| 493 |  SECH Securities House (K.S.C) | 21 | F |
| 494 |  SHUAA Shuaa Capital (P.S.C) | 21 | F |
| 495 |  SOOR Soor Fuel Marketing Co. KSC | 21 | F |
| 496 |  SPINNEYS Spinneys 1961 Holding plc | 21 | F |
| 497 |  TAHSSILAT Credit Rating & Collection KSC | 21 | F |
| 498 |  TALABAT Talabat Holding Plc | 21 | F |
| 499 |  TAM Tamdeen Real Estate Co. K.S.C.C. | 21 | F |
| 500 |  TIJARA Tijara & Realestate Investment Co. K.S.C. Closed | 21 | F |
| 501 |  TROLLEY Trolley General Trading Company K.S.C.C. | 21 | F |
| 502 |  UFC United Foods Co. PSC | 21 | F |
| 503 |  UPAC United Projects Company for Aviation Services KSCP | 21 | F |
| 504 |  UPP Union Properties (P.J.S.C) | 21 | F |
| 505 |  WARBACAP Warba Capital Holding Co. | 21 | F |
| 506 |  WETHAQ Wethaq Takaful Insurance Co. KCSC | 21 | F |
| 507 |  1303 Electrical Industries Co. | 20 | F |
| 508 |  1304 Al Yamamah Steel Industries Co. | 20 | F |
| 509 |  1321 East Pipes Integrated Company for Industry | 20 | F |
| 510 |  2250 Saudi Industrial Investment Group | 20 | F |
| 511 |  3040 Qassim Cement Co. | 20 | F |
| 512 |  3050 Southern Province Cement Co. | 20 | F |
| 513 |  3090 Tabuk Cement Co. | 20 | F |
| 514 |  4070 Tihama Advertising & Public Relations Co. | 20 | F |
| 515 |  4260 United International Transportation Co. Ltd. | 20 | F |
| 516 |  4270 Saudi Printing & Packaging Co. | 20 | F |
| 517 |  6070 Al-Jouf Agriculture Development Co. | 20 | F |
| 518 |  8010 Company for Cooperative Insurance | 20 | F |
| 519 |  8311 Saudi Enaya Cooperative Insurance Company | 20 | F |
| 520 |  9526 Batic Investments & Logistics | 20 | F |
| 521 |  9562 Food Gate Trading Company | 20 | F |
| 522 |  CABK Cairo Amman Bank | 20 | F |
| 523 |  TECOM TECOM Group PJSC | 20 | F |
| 524 |  PUREHEALTH Pure Health Holding PJSC | 18 | F |
| 525 |  RAKBANK The National Bank of Ras Al Khaimah | 18 | F |
| 526 |  1320 Saudi Steel Pipe Co. | 16 | F |
| 527 |  1820 BAAN Holding Group Company | 16 | F |
| 528 |  1833 Almawarid Manpower Company | 16 | F |
| 529 |  2001 Methanol Chemicals Co. | 16 | F |
| 530 |  2083 Power and Water Utility Company for Jubail and Yanbu (Marafiq) | 16 | F |
| 531 |  2223 Saudi Aramco Base Oil Company - Luberef | 16 | F |
| 532 |  2270 Saudia Dairy & Foodstuff Co. | 16 | F |
| 533 |  2281 Tanmiah Food Company | 16 | F |
| 534 |  2350 Saudi Kayan Petrochemical Co. | 16 | F |
| 535 |  2380 Rabigh Refining & Petrochemical Co. Class A | 16 | F |
| 536 |  2381 Arabian Drilling Co. | 16 | F |
| 537 |  3080 Eastern Province Cement Co. | 16 | F |
| 538 |  3091 Al Jouf Cement Co. | 16 | F |
| 539 |  3092 Riyadh Cement Co. | 16 | F |
| 540 |  4005 National Medical Care Co. | 16 | F |
| 541 |  4019 Specialized Medical Company | 16 | F |
| 542 |  4020 Saudi Real Estate Co. | 16 | F |
| 543 |  4031 Saudi Ground Services Co. | 16 | F |
| 544 |  4040 Saudi Public Transport Co. | 16 | F |
| 545 |  4145 Obeikan Glass Co | 16 | F |
| 546 |  4150 Arriyadh Development Co. | 16 | F |
| 547 |  4160 THIMAR Development Holding Co. | 16 | F |
| 548 |  4162 Almunajem Foods Company | 16 | F |
| 549 |  4163 Al Dawaa Medical Services Co. | 16 | F |
| 550 |  4164 Nahdi Medical Company | 16 | F |
| 551 |  4230 Red Sea International Co. | 16 | F |
| 552 |  4240 AFG International Company | 16 | F |
| 553 |  4262 Lumi Rental Company | 16 | F |
| 554 |  4265 Cherry Trading Co. | 16 | F |
| 555 |  4320 Alandalus Property Co. | 16 | F |
| 556 |  4322 Retal Urban Development Company | 16 | F |
| 557 |  5110 Saudi Energy Co. | 16 | F |
| 558 |  6010 National Agricultural Development Co. | 16 | F |
| 559 |  6013 Development Works Food Co. | 16 | F |
| 560 |  6014 AlAmar Foods Co. | 16 | F |
| 561 |  6019 Al Masar Al Shamil Education Co. | 16 | F |
| 562 |  7202 Arabian Internet and Communications Services Company | 16 | F |
| 563 |  8100 Saudi Arabian Cooperative Insurance Co. | 16 | F |
| 564 |  8170 Al-Etihad Cooperative Insurance Co. | 16 | F |
| 565 |  8180 Al Sagr Cooperative Insurance Co. | 16 | F |
| 566 |  8240 Chubb Arabia Cooperative Insurance Company | 16 | F |
| 567 |  8280 LIVA Insurance Company | 16 | F |
| 568 |  9530 Arabian International Healthcare Holding Co. | 16 | F |
| 569 |  9550 Sure Global Technology Company | 16 | F |
| 570 |  9576 Paper Home Company | 16 | F |
| 571 |  9583 United Mining Industries Company | 16 | F |
| 572 |  9604 Miral Dental Clinics Co. | 16 | F |
| 573 |  9626 Basma Adeem Medical Co. | 16 | F |
| 574 |  9645 National Signage Industria Co. | 16 | F |
| 575 |  ADAVIATION Abu Dhabi Aviation Co. | 16 | F |
| 576 |  ALFIRDOUS Al Firdous Holdings PJSC | 16 | F |
| 577 |  ALRAMZ Al Ramz Corporation Investment & Development PJSC | 16 | F |
| 578 |  BEMA Damaan Islamic Insurance Company (Beema) | 16 | F |
| 579 |  BLDN Baladna Q.P.S.C | 16 | F |
| 580 |  BOURSA Boursa Kuwait Securities Company (K.P.S.C) | 16 | F |
| 581 |  DRC Dubai Refreshment Company P.J.S.C | 16 | F |
| 582 |  EIBANK Emirates Investment Bank PJSC | 16 | F |
| 583 |  EMAARDEV Emaar Development PJSC | 16 | F |
| 584 |  EMPOWER Emirates Central Cooling Systems Corporation PJSC | 16 | F |
| 585 |  INOVEST Inovest BSC | 16 | F |
| 586 |  ITHMR Ithmaar Holding BSC | 16 | F |
| 587 |  MUNSHAAT Munshaat Real Estate Projects Co. K.S.C.C. | 16 | F |
| 588 |  QFLS Qatar Fuel-Woqod QSC | 16 | F |
| 589 |  TAALEEM Taaleem Holdings PJSC | 16 | F |
| 590 |  VALMORE Valmore Holding | 16 | F |
| 591 |  ZHCD Zad Holding Co. | 16 | F |
Sector Comparison
Methodology
Each company is scored across 8 governance dimensions using publicly available board data. Scores are computed live — they update automatically as new data is ingested, with no manual intervention. Our framework is aligned with jurisdiction-specific GCC governance codes and international best practices.
Board Independence
Proportion of independent directors — all GCC codes require minimum one-third (CMA/SCA/QFMA)
Committee Coverage
Presence of audit, remuneration, and nomination committees (required by CMA Art. 54-56)
Meeting Attendance
Average board meeting attendance rate — reflects director engagement
Board Size
Optimal range: 7-12 members (GCC code guidance, IFC best practice)
CEO/Chair Separation
Whether the CEO and board chair are different people (CMA Art. 24, SCA Art. 14)
Auditor Independence
Non-audit fee ratio — lower ratio = more independent external auditor (CMA Art. 81)
Board Gender Diversity
Female representation on board — aligned with G20/OECD Principles Ch. VI and MEIRA guidance
Credential Density
Professional qualifications per board member (GCC BDI certification, CFA, CPA, etc.)
Pay Transparency
Level of executive compensation disclosure (CMA Art. 93, SCA Art. 27)
Ownership Diversification
Lower ownership concentration (HHI) = better minority protection (IFC methodology)
Regulatory Framework
Our governance scoring model incorporates requirements from each GCC jurisdiction's corporate governance code, supplemented by international frameworks. Thresholds are calibrated per-exchange — for example, all GCC codes require at least one-third independent directors, compared to majority independence in OECD markets.
GCC National Governance Codes
Saudi CMA Corporate Governance Regulations
Capital Market Authority (CMA)
21 articles covering board composition, committees, disclosure, conflicts of interest
SCA Governance Guide (Decision No. 3/2020)
Securities & Commodities Authority (SCA)
Board structure, subsidiary governance, shareholder rights, CSR
QFMA Governance Code for Listed Companies
Qatar Financial Markets Authority (QFMA)
10 governance topics aligned with IOSCO/OECD/ICGN standards
Kuwait CMA Executive Bylaws — Module 15
Capital Markets Authority (CMA)
Max 3-year board terms, 5-company board seat limit, CSR disclosure
Corporate Governance Code (Decree No. 91/2022)
Ministry of Industry & Commerce / CBB
11 governance principles, comply-or-explain, governance committees
Code of Corporate Governance (CMA Circular E/4/2015)
Financial Services Authority (FSA)
14 mandatory principles aligned with GCC unified governance standards
JSC Corporate Governance Instructions
Jordan Securities Commission (JSC)
Board independence, audit committees, related party oversight
International Frameworks
G20/OECD Principles of Corporate Governance (2023)
Global benchmark — shareholder rights, disclosure, board responsibilities, sustainability
IFC Corporate Governance Methodology
Emerging markets scorecard — board effectiveness, shareholder rights, disclosure quality
AAOIFI Governance Standards (GSIFI series)
Islamic finance governance — Shariah board composition, audit, and compliance standards
ISS / Glass Lewis Overboarding Standards
Recommend AGAINST directors exceeding 5 public board seats (non-executive)
Hawkamah Institute for Corporate Governance
MENA regional governance institute (OECD/IFC/World Bank co-founded)
GCC Board Directors Institute (GCC BDI)
Pan-GCC director certification — 8-dimension Board Effectiveness Framework (McKinsey). 40% of GCC boards have zero female directors (2025 survey)
MEIRA (Middle East Investor Relations Association)
IR best practice across 10 GCC/MENA chapters. IR Awards ESG criteria reference board governance oversight
GCC Exchanges Committee Unified ESG Metrics (2023)
29 unified metrics (9 governance) endorsed by all 7 GCC exchanges, aligned with WFE/SSE Initiative
Frequently Asked Questions
▶How is the Governance Risk Score calculated?
The score is a composite of 8 weighted factors: Board Independence (20 pts), Committee Coverage (15 pts), Board Attendance (15 pts), Board Size (10 pts), CEO/Chair Separation (10 pts), Auditor Independence (10 pts), Credential Density (10 pts), and Pay Transparency (10 pts). Maximum score is 100.
▶Which governance codes do you follow?
We align with each exchange's national governance code — Saudi CMA Regulations for TDWL, UAE SCA Governance Guide for DFM/ADX, QFMA Code for QSE, and equivalent codes for BK, BHB, MSX, and ASE. All GCC codes require at least one-third independent directors. We also reference G20/OECD Principles and IFC standards as international baselines.
▶Why do some companies score 0 or show no score?
A score requires minimum board data — at least one director appointment with role information. Companies with only executive data (CEO/CFO) and no board-level appointments cannot be scored. Coverage varies by exchange: QSE and BK have the highest data density; BIST and ISX are not yet covered.
▶How often are scores updated?
Scores are computed live from the latest data. When new director appointments, committee memberships, attendance records, or auditor fee disclosures are ingested, scores update automatically within minutes.
▶How do you handle Islamic finance governance?
Shariah governance is assessed separately via our AAOIFI Standard No. 21 screening engine. Shariah board composition, independence, and advisory quality are tracked on dedicated pages. The GRS focuses on corporate board governance, which applies equally to conventional and Islamic companies.
▶Why is one-third independence the threshold instead of majority?
All GCC national governance codes set the minimum at one-third independent directors, reflecting the region's concentrated ownership structures (government, sovereign wealth funds, ruling families). This is lower than the OECD/US norm of majority independence. Our scoring awards maximum points for full independence but calibrates thresholds to GCC regulatory expectations.
▶Does the score account for ruling family or government directors?
The current 8-factor GRS treats all directors equally based on their declared independence status. Our separate PEP Screening tool identifies politically exposed persons (ruling family members, SWF representatives, government appointees) and our Governance Scorecard provides a more nuanced view of effective independence.
▶Is this a recommendation to buy or sell?
No. SouqData provides data analytics and governance assessment, not investment advice. Governance scores reflect observable board characteristics — they are one input among many for investment decisions. Always consult a licensed financial adviser.
Related Insights
CGX Compliance
Compliance scoring against the SGX Code of Corporate Governance.
Committee Independence
Board committee composition and independence analysis.
Attendance & Engagement
Board meeting attendance rates and director engagement.
Credential Score
Director qualification and credential density analysis.
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.
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