Corporate Governance Office at the College of Business of Alfaisal University is undertaking a major study to develop a Corporate Governance Index (CGI) for companies trading on the Saudi Financial Market for the fiscal year of 2015. The project is partially funded by the Saudi Arabian General Investment Authority (SAGIA) and encouraged by Capital Market Authority (CMA).
A dedicated team from College of Business at Alfaisal University is working with support from well-experienced consultants to develop this index. The CGI is based solely on good CG principles set by CMA and The Organization for Economic Co-operation and Development (OECD). The goal is to rank the publicly traded companies in the Saudi market according to their compliance with those principles and performance.
The CGI project is of three years duration. The first year, which ends in May 2017, deals with the calculations of CGI for the year 2015 of companies traded on the Saudi Financial market. The second year which is expected to end in February 2018 is expected to deal with the calculations of the CGI for companies traded in the GCC markets. Then the third year that is expected to end in January 2019 as it releases the CGI for major companies traded in the GCC markets and completes the formation of the Corporate Governance research Center.