Saudi Arabia Steps Up Transparency With Company Disclosures
- Tadawul to give ownership details of CEOs, CFOs, board members
- Bourse to implement new mechanism after Eid Al-Fitr holiday
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Saudi Arabia’s stock exchange, the Arab world’s largest, plans to start disclosing ownership information of top executives at listed companies as the kingdom steps up efforts to increase transparency.
The Tadawul will require all companies trading on the exchange to submit ownership disclosures for its board members, chief executive officers, chief financial officers or top executives for publication on the bourse’s website, according to a statement on Monday. The data is to be published daily, it said.