The Kuwaiti capital market has experienced substantial growth over the years, with the Kuwait Stock Exchange (KSE) being one of the largest stock exchanges in the Middle East. However, the country still faces challenges in terms of corporate governance practices. In 2016, the Kuwaiti government introduced the Corporate Governance Code for listed companies, which aimed to enhance transparency, accountability, and disclosure practices.
The UK Corporate Governance Code is considered one of the most comprehensive and widely adopted codes globally. The code emphasizes the importance of a robust board structure, with a clear division of responsibilities between the chairman, CEO, and other executive directors. It also stresses the need for independent non-executive directors and a well-functioning audit committee. Furthermore, the code requires listed companies to report on their corporate governance practices and comply with the principles of good governance. The UK Corporate Governance Code is considered one
The Kuwait Corporate Governance Code, introduced in 2016, aims to enhance the governance framework for listed companies in the country. The code emphasizes the importance of a clear and transparent governance structure, with a well-defined role for the board of directors. It also requires companies to establish an audit committee and a nomination and remuneration committee. However, the code lacks specific guidelines on the independence of non-executive directors and the separation of chairman and CEO roles. Furthermore, the code requires listed companies to report