Page 29 - SAMENA Trends - June-August 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Recognized with Prestigious World Finance ‘Best Corporate Governance
Award 2021’ for Kuwait

Zain Group announces it has won the Capital Markets Authority in Kuwait, practice in its Investor Relations and
World Finance ‘Best Corporate Governance Boursa Kuwait, the Ministry of Commerce general operating and reporting functions.
Award 2021’ for Kuwait. The company and Industry and other regulatory bodies. The company’s Code of Conduct, for
drew praise from the judging panel for Bader A-Kharafi, Zain Vice-Chairman example, requires that any business
its principles and integrity captured by and Group CEO said, “We are proud of dealings be undertaken with the upmost
its Investor Relations and Corporate the standards we set with respect to honesty, integrity and fairness. To uphold
Governance Framework, which drive its corporate governance and integrity. this, Zain, its suppliers, business partners,
ongoing ability to provide shareholder From the publication of our annual and intermediaries and agents are expected
returns and to pursue long-term objectives sustainability reports to our regulatory to carry on business with the highest
while ensuring ongoing transparency and disclosures as well as operational and levels of integrity, honesty, fairness and
accountability. World Finance is a print and financial results reporting, we are guided responsibility. Zain’s Code of Conduct
online magazine providing comprehensive by a desire to offer all our stakeholders also requires that stakeholders ensure
coverage and analysis of the financial the most transparent access to our they have adopted a similar approach
industry, international business and the information as possible.” Al Kharafi added, to conducting their own businesses.
global economy. Since being founded “The proactiveness and innovative policies The ethical guidelines of Zain’s Code of
nearly 20 years ago, the publication is read of the Capital Markets Authority, Boursa Conduct are extensive and exist to guide
in over 100 countries, with a readership Kuwait, Ministry of Commerce and Industry and empower the Board of Directors and
of 120,000 per issue on average. The and other regulatory bodies in Kuwait drive executive management to make the right
annual World Finance Awards select us to be a more agile and responsible choices, as individuals and as a company.
and analyze some of the most diverse organization and we remain motivated Adhering to the Code of Conduct allows
and succinct governance platforms to raise the bar even higher with respect Zain to exercise a positive impact on the
and recognize leading organizations in to good governance and accountability.” industry, communities in which it operates,
this important area. Zain has adopted a Zain’s corporate governance framework and beyond; and build a company all can be
sound Investor Relations and Corporate helps the company to mitigate risks and proud of, where corporate responsibility is a
Governance Framework that enhances facilitates an effective board oversight over key competitive advantage. With respect to
the overall governance environment the company’s executive management by compliance, Zain’s Corporate Governance
within the company in line with applicable monitoring the implementation of policies and Compliance Department is responsible
laws, regulations and leading practices. when running daily operations. Corporate for monitoring the implementation of the
Wherever possible, the company looks to Governance promotes strong internal Corporate Governance Framework. The
exceed the requirements of the Corporate controls to improve integrity of financials department also facilitates the review
Governance Regulations issued by the and establishes a culture of compliance. assessment of the company’s corporate
This governance structure has also helped governance framework to verify full
Zain to win the confidence of the market compliance with the set framework and
and attract global investors. Zain’s CG related laws and regulations in Kuwait
framework includes a set of policies and the countries that Zain operates in.
that have been approved by the board to This ‘Best Corporate Governance Award
safeguard the integrity of the day-to-day 2021’ award follows Zain recently been
business operations and to protect the named winner in three categories at the
rights of different stakeholders. These annual Global Good Governance Awards
policies discuss and outline responsibilities 2021: Best of the Best in Diversity Award
and commitments relating to critical 2021; Leadership in Sustainability Award
topics such as whistleblowing, conflict 2021; and Championship Award in Women
of interest, related party transactions, Empowerment 2021. The annual Global
disclosure, remunerations of the Board Good Governance Awards are organized
and the Executive management, and board by UK-based think tank Cambridge IFA and
affairs including board assessment, to celebrate individuals, governments, public
name a few. Zain Group’s selection for this and private sector institutions and NGOs
year’s honors is a result of the company’s that exhibit governance and sustainability
tireless pursuit of transparency and best as their strategic priority.

29 JUN-AUG 2021