Zain, a leading provider of innovative technologies and digital lifestyle communications operating in eight markets across the Middle East and Africa, has been awarded World Finance’s ‘Best Corporate Governance Award 2024 for Kuwait’, for a milestone fourth consecutive year.
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.
Corporate Governance is becoming an increasingly important differentiator for organizations, particularly those such as Zain, which are listed on public bourses, with respect to giving all stakeholders confidence that the company is being run in a compliant and transparent manner. As such, Zain’s Investor Relations and Corporate Governance Framework is a cornerstone of the company’s regional appeal, and has attracted ongoing praise and admiration from shareholders, industry analysts, and regulatory authorities.
As a leading entity listed on the Premier Market, Zain abides fully to market regulations issued by all financial regulatory bodies in Kuwait and across our footprint, including the Ministry of Commerce and Industry, the Capital Markets Authority (CMA), and Boursa Kuwait as well as other regulatory bodies where Zain is listed.
Bader Al-Kharafi, Zain Vice-Chairman and Group CEO said, “Zain believes sound corporate governance plays a significant role in providing long-term sustainable value to all stakeholders. This milestone fourth consecutive recognition justly rewards our Investor Relations, Sustainability and Corporate Governance team’s consistent high ethical standards, professionalism and diligence.”
Zain’s Corporate Governance framework helps it 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.
Furthermore, 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.
Notably, both Zain’s Annual Report as well as its Sustainability Report demonstrate the company’s efforts to provide Meaningful Connectivity leading to equitable systemic change, as well as highlighting how Zain is placing ESG activities and sustainable growth at the forefront of its activities, believing in the nurturing of positive relationships among all stakeholders.
Source: Press Release