Zain announces winning the World Finance ‘Best Corporate Governance Award 2023 for Kuwait’, for the third consecutive year. Zain was also deemed to provide the ‘Best Corporate Governance of a listed company in Kuwait’ in 2023 at the Arab Federation of Capital Markets (AFCM) Annual Conference held in Muscat recently.
London-based World Finance is a reputable print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The AFCM was established in 1978 to be the guiding body for Arab stock exchanges, under the recommendation of the Arab Central Banks Conference.
Zain’s Investor Relations and Corporate Governance Framework is a cornerstone of the company’s regional appeal, and has attracted ongoing praise and admiration as its exemplary operation provides stakeholders including shareholders, industry analysts, and regulatory authorities with the greatest confidence on the company’s state of being.
As a leading entity listed on the Premier Market, Zain is in regular communication with the country’s Capital Markets Authority (CMA), abiding fully to market regulations issued by all financial regulatory bodies in Kuwait including the Ministry of Commerce and Industry, the CMA, and Boursa Kuwait.
Bader Al-Kharafi, Zain Vice-Chairman and Group CEO said, “Zain has established a culture to exceed expectations across all its areas of operation; and maintaining a positive, transparent relationship with market stakeholders is fundamental to our ongoing success. We are committed to adhering to the highest levels of governance, providing all our stakeholders an accurate picture of Zain at any point, and interact with us in a straightforward and productive manner.”
Al-Kharafi continued, “The publication of detailed regulatory disclosures, Corporate Governance framework, operational and financial results reporting, as well as sustainability and thought leadership reports annually, all point to our efforts to provide quality, informative and actionable facts about the company and its ‘4Sight’ transformational and profitable growth strategy.”
Zain believes good governance plays a significant role in providing long-term sustainable value to stakeholders. Accordingly, the organization has an impressive track record in providing all stakeholders with accurate and transparent access to company information, beyond the minimum disclosure requirements.
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 helped Zain to win the confidence of the market and attract global investors.
Zain’s Investor Relations, Sustainability, and Corporate Governance departments are committed to raising awareness on issues related to the environment, social, and governance (ESG) matters in response to global trends and best practices. Accordingly, Zain has developed new policies and is working to increase transparency in addition to focusing on social responsibility. Such policies and procedures are flexible, and take into account both short- and long-term challenges and risks.
Zain has placed sustainable growth at the forefront of its activities, believing in the nurturing of positive relationships among all stakeholders.
