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Zain wins global recognition for corporate governance

KUWAIT, July 11, 2021

Zain Group, a leading telecom innovator in seven markets across the Middle East and Africa has announced that it has won the World Finance ‘Best Corporate Governance Award 2021’ for Kuwait.

The company drew praise from the judging panel for its principles and integrity captured by its Investor Relations and Corporate Governance Framework, which drive its ongoing ability to provide shareholder returns and to pursue long-term objectives while ensuring ongoing transparency and accountability.  

World Finance is a print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The annual World Finance Awards select and analyze some of the most diverse and succinct governance platforms and recognize leading organizations in this important area.

Zain has adopted a sound Investor Relations and Corporate Governance Framework that enhances the overall governance environment within the company in line with applicable laws, regulations and leading practices. Wherever possible, the company looks to exceed the requirements of the Corporate Governance Regulations issued by the Capital Markets Authority in Kuwait, Boursa Kuwait, the Ministry of Commerce and Industry and other regulatory bodies.

Bader A-Kharafi, Zain Vice-Chairman and Group CEO said: “We are proud of the standards we set with respect to corporate governance and integrity. From the publication of our annual and sustainability reports to our regulatory disclosures as well as operational and financial results reporting, we are guided by a desire to offer all our stakeholders the most transparent access to our information as possible.

 “The proactiveness and innovative policies of the Capital Markets Authority, Boursa Kuwait, Ministry of Commerce and Industry and other regulatory bodies in Kuwait drive us to be a more agile and responsible organization and we remain motivated to raise the bar even higher with respect to good governance and accountability.”

Zain’s corporate governance framework helps the company to mitigate risks and facilitates an effective board oversight over the company’s executive management by monitoring the implementation of policies when running daily operations.

Corporate Governance promotes strong internal controls to improve integrity of financials and establishes a culture of compliance. This governance structure has also helped Zain to win the confidence of the market and attract global investors.

This ‘Best Corporate Governance Award 2021’ award follows Zain recently been named winner in three categories at the annual Global Good Governance Awards 2021: Best of the Best in Diversity Award 2021; Leadership in Sustainability Award 2021; and Championship Award in Women Empowerment 2021.

The annual Global Good Governance Awards are organized by UK-based think tank Cambridge IFA and celebrate individuals, governments, public and private sector institutions and NGOs that exhibit governance and sustainability as their strategic priority. – TradeArabia News Service




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