Page 16 - SAMENA Trends - July-August 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Wins Two ‘Best Corporate Governance in
Kuwait’ Awards from World Finance and the Arab

Federation of Capital Markets

Zain, a leading provider of innovative technologies and digital
lifestyle communications operating in seven markets across the
Middle East and Africa, 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 a significant role in providing long-term sustainable value to
company’s regional appeal, and has attracted ongoing praise stakeholders. Accordingly, the organization has an impressive
and admiration as its exemplary operation provides stakeholders track record in providing all stakeholders with accurate and
including shareholders, industry analysts, and regulatory authorities transparent access to company information, beyond the minimum
with the greatest confidence on the company’s state of being. As disclosure requirements. Zain’s Corporate Governance framework
a leading entity listed on the Premier Market, Zain is in regular helps the company to mitigate risks and facilitates an effective
communication with the country’s Capital Markets Authority (CMA), Board oversight over the company’s executive management by
abiding fully to market regulations issued by all financial regulatory monitoring the implementation of policies when running daily
bodies in Kuwait including the Ministry of Commerce and Industry, operations. Corporate Governance promotes strong internal
the CMA, and Boursa Kuwait. Bader Al-Kharafi, Zain Vice-Chairman controls to improve integrity of financials and establishes a culture
and Group CEO said, “Zain has established a culture to exceed of compliance. This governance structure has helped Zain to win
expectations across all its areas of operation; and maintaining the confidence of the market and attract global investors. Zain’s
a positive, transparent relationship with market stakeholders is Investor Relations, Sustainability and Corporate Governance
fundamental to our ongoing success. We are committed to adhering departments are committed to raising awareness on issues related
to the highest levels of governance, providing all our stakeholders to the environment, social, and governance (ESG) matters in
an accurate picture of Zain at any point, and interact with us in response to global trends and best practices. Accordingly, Zain has
a straightforward and productive manner.” Al-Kharafi continued, developed new policies and is working to increase transparency
“The publication of detailed regulatory disclosures, Corporate in addition to focusing on social responsibility. Such policies and
Governance framework, operational and financial results reporting, procedures are flexible, and take into account both short- and long-
as well as sustainability and thought leadership reports annually, term challenges and risks. Zain has placed sustainable growth at
all point to our efforts to provide quality, informative and actionable the forefront of its activities, believing in the nurturing of positive
facts about the company and its ‘4Sight’ transformational and relationships among all stakeholders.
profitable growth strategy.” Zain believes good governance plays

Zain Teams Up with Google Cloud to Accelerate Its Digitization Journey

Zain announces a collaboration in Kuwait
with Google Cloud, wherein the company
has selected Anthos, a hybrid and multi-
cloud platform that enables enterprises
to run workloads on premise, on the
cloud, and at the edge consistently using
an open model that brings choice and
flexibility. The step comes to reaffirm
Zain’s relentless pursuit of achieving full
digital transformation across its entire
business. The announcement was made
at the Zain Innovation Campus (ZINC)
in the company’s main headquarters in

16 JULY-AUGUST 2023