Corporate Governance Of Listed Companies In Kuwait A Comparative Study With United Kingdom Saudi And Qatar Codes Link Exclusive File

Moving beyond compliance to adopt substantive, rather than form-based, ESG reporting is the next step for Kuwait.

Despite the progress, Kuwaiti listed companies face challenges:

Based on the comparative analysis, the following recommendations are made: Moving beyond compliance to adopt substantive, rather than

In the fast-moving financial landscapes of 2026, corporate governance has shifted from a "check-the-box" exercise to a strategic necessity for attracting international capital. For listed companies in Kuwait , understanding how their local framework stacks up against regional peers like Saudi Arabia and Qatar—and the global gold standard of the United Kingdom—is essential.

The governance of listed companies in Kuwait is primarily regulated by the Capital Markets Authority (CMA) Law and its executive bylaws. The governance of listed companies in Kuwait is

: Listed companies must have a board of at least five members (eleven for banks).

The UK model relies on principles rather than prescriptive rules. It emphasizes shareholder stewardship, stakeholder engagement (Section 172 of the Companies Act 2006), and a rigid separation of CEO and Chairman. The UK sanctions governance through the Financial Reporting Council (FRC) using the "Comply or Explain" mechanism—allowing deviation if justified. It emphasizes shareholder stewardship

: Governance reporting must focus on board decisions and their outcomes in the context of the company's strategy and objectives. Boards must assess and monitor company culture and describe how it has been embedded in the business.

When oil prices crash, Kuwaiti family firms suddenly embrace UK-style governance to attract foreign debt. When oil booms, they revert to the Diwaniya (traditional majlis) model of decision making.