THE Corporate Governance Center (CGC) at the College of Business of Alfaisal University issues an annual report which includes The Corporate Governance Index (CGI) that is based solely on the sound corporate governance principles as set by the CMA, the Saudi Arabian Monetary Authority (SAMA), and the Organization for Economic Cooperation and Development (OECD). The most recent report, the second annual ratings, covering the 2016 fiscal year, ranked "Bupa Arabia" first under the "Public Disclosure & Transparency" category, highlighting the company's success in this area. "Bupa Arabia" ensures robust public disclosure and transparency, in both Arabic and English, through a variety of mediums, including its website, Annual Reports, Tadawul announcements, and others. Chief Risk Officer at Bupa Arabia Ali F. Hamdan pointed out that good governance is essential for Saudi publicly listed companies in the increasingly competitive global market, in particular that public disclosure and transparency is one of the most important principles of corporate governance. Transparency and strong corporate governance are needed in both domestic and international transactions and at all phases of investment. With CMA new rules and regulations, companies have no choice but to push for good, transparent data availability. Rapid transparent data is becoming integral to the establishment of a reduced risk investment environment. Saudi Arabia plans to uplift corporate governance and transparency practices as it plays a crucial role in reducing investor risk and increasing investment flows, especially after the announcement made by the CMA in April that deeper corporate governance reforms are required in line with global governance standards.
