MCI is pursuing to apply the Criteria of Transparency Provisions, Disclosure and Saving the Dealers Rights
MCI emphasizes the need to ensure the application of fair practice and the application of criteria and provisions of transparency and disclosure in accordance with the basic principles of governmentalism in the Kingdom, which aims to sustain and develop the economic entities, indicating its commitment and ongoing follow up, which aims at protecting the shareholders and saving the dealers rights, and this is stemming out of its supervisory and surveillance responsibility over the companies operating in the Kingdom.
MCI pointed out its pursuit to devote, promote and protect the rights of all dealers with the companies, the Ministry is also striving to ensure the proper and fair application of the standards and provisions of transparency and the disclosure of the financial position of the companies, represented by their financial statements, performance, and the distribution of property, all that to be done on time and accurately.
The applications of companies governmentalism, which is the Ministry pursuing, also include the work to provide a sound basis for the effective framework for the company governmentalism , to improve the performance of institutions and to ensure the integrity of transactions, as well as strengthening the exercise of the partner or shareholder to his rights in the company and to protect that, and to ensure fair treatment for all shareholders and partners, especially the minority of the shareholders.
Besides, the Ministry gives particular importance to the safety and efficiency of the companies` Board of Directors, and their role in shaping the corporations strategies, as well as the effective surveillance on the executive departments, also stating the competences of the Board of Directors towards the company and its shareholders.