The Qatar Financial Markets Authority announced today, the issuance of the system of governance of the listed companies, and called on all those involved in the provisions of its Board of Directors Resolution No. (5) of 2025 to reconcile their conditions in accordance with its provisions within a year from the date of its publication in the Official Gazette.
The corporate governance system dealt with several issues, represented in the tasks and responsibilities of the board of directors of the listed company, forming the council and the conditions of membership in it, council practices and conflicts of interests, council committees, supreme executive management, internal control system, foundations and policies of granting rewards and incentives, communication between the council and shareholders, disclosure of corporate governance, and companies that the government contributes to, as the system clarified procedures that nominate members of the corporate management boards Liser.
The regime took into account a set of principles in drafting the provisions of the governance of the listed companies, represented in observing the principle of integrity and transparency, the principle of justice and equality, and the principle of responsibility, control and accountability.
Mr. Khaled Saif Al -Sulaiti, Director of Governance and Disclosure Department at the Qatar Financial Markets Authority, confirmed in an interview with the Qatar News Agency “Qena”, that the new governance system launched by the authority represents a fundamental step in keeping pace with the development of the organizational environment for the capital market for the best international standards, and in line with the characteristics of the Qatari financial market, and aims to establish the principles of transparency and integrity, and ensure the rights of shareholders, in a manner that enhances confidence In the Qatari financial market.
He explained that the new system that replaces the previous system issued in 2016 included fundamental amendments, most notably raising the minimum number of members of the Board of Directors of the companies listed to seven members, with a maximum ceiling of 11 members.
The system also set a clear and detailed mechanism for the running and election process, and attached an attachment explaining the procedures from opening the door for candidacy to the formation of the council and committees, with the identification of the types of members (independent, non -independent, executives, and non -executives) and the mandatory committees that must be formed.
He pointed out that the new system is based on the best international practices and standards in the field of governance, and attaches great importance to the principle of disclosure, especially with regard to the rights of shareholders and equality between them, as well as introducing the disclosure of the extent of companies ’commitment to sustainability and social responsibility and climate responsibility, and obligated companies listed to publish periodic reports on these aspects, in addition to disclosing fundamental news and financial data.
The Director of Governance and Disclosure Department at the Qatar Financial Markets Authority praised the commitment of the Qatari companies listed to the criteria of governance, stressing that this commitment reflects its keenness to maintain its prestigious position locally and internationally, and enhances the confidence of customers and suppliers in it, adding that the Qatari market today includes a group of the best companies at the level of different sectors globally.
He also pointed out that the new system obliged companies to disclose the reports of sustainability, climate and social responsibility, as the authority will issue a guidance guide that helps companies adhere to these standards in accordance with the best international practices.
With regard to attracting foreign investors, Mr. Khaled Saif Al -Sulaiti, Director of Governance and Disclosure Department at the Qatar Financial Markets Authority, stressed that the regulations issued by the authority play an important role in enhancing investor confrontations, as the foreign investor is keen to study the organizational environment before entering any market, through the Qatari companies disclosing comprehensive annual reports that include disclosure related to governance.
And on the strengths that distinguish Qatari companies, Mr. Al -Sulaiti pointed out that many of them, especially in sectors such as industries, banks and communications, are committed to the highest criteria of governance, which makes them among the best at the regional and international levels.
In light of the rapid changes in the global markets, he stressed that the new system came in line with local and international developments, and reflects the authority’s ability to review and modernize the standards periodically in proportion to international changes and others. He expected the system to contribute to enhancing transparency and increasing investor confidence, which adds a great value to the Qatari financial market.
The Qatar Financial Markets Authority emphasized, according to the system, that the rules and provisions of the corporate governance system are derived from the recommendations of international institutions concerned with corporate governance, the most important of which are: the International Organization for Financial Markets (IOSCO), the Organization for Economic Cooperation and Development (OECD), the recommendations of the International Sustainability Standards Council (ISSB), the International Governance Network (ICGN), in addition to best regional practices The international in this field, and all of this in proportion to the data of the Qatari financial market, where each company must prepare a policy adopted by the Council for disclosure and transparency in accordance with the international principles that govern this and the Organization for Economic Cooperation and Development (OECD) for the principles of corporate governance and the International Sustainability Standards Council (ISSB), in order to achieve the purposes of the company and the stakeholders and its concerned authorities; In order to raise the level of governance applications and adhere to the requirements of disclosure during the time periods specified in the relevant legislation, including the disclosure of financial reports and the annual sustainability report that shows the company’s contribution indicators in the protection of the environment, social participation, and institutional governance, according to this system and market rules in this regard, the Qatar Financial Markets Authority works to establish principles and values of corporate governance in accordance with For the best international standards and practices, in a way that contributes to improving the company’s performance, upholding the public interest, enhancing the efficiency of financial markets, thus enhancing the legislative environment that attracts investments in Qatar, protecting investor rights, and stabilizing dealing in financial markets.
Governance is a set of relationships between the company’s management, the board of directors, shareholders and other interests, which clarifies the mechanism through which the process of setting goals and means to achieve these goals and monitor performance, and that governance determines the powers, responsibilities and decision -making process, in addition to organizing the company’s relationship with the environment surrounding it and its relationship to the society in which its activity is practiced, and thus is the guarantor of the rational and sound administration of the company, And in the interest of the company, and in the interest of all of these groups that have been mentioned.
In its content, governance deals with the achievement of justice and equality between all stakeholders, by directing the company’s management to how it is managed, and dealing with the various events and challenges that it may be exposed to, especially the method of managing the dangers it faces, organizing interests and avoiding conflicts of interests in it, and emphasizing the principle of transparency and disclosure in its work, and ways of its contribution to sustainability, in addition to the finding of the necessary departments, departments and committees in them to enforce The requirements of governance on it, in addition to ensuring the existence of domestic tasks, policies and procedures for the company, approved by the company that guarantees the purpose of governance requirements.