Towards a New Governance for Boards of Directors of Corporations subject to the Kuwait Capital Market Authority
Dr. Ahmad Rasheed Al-Mutairi
Professor of Company Law – Head of the Law Department – College of Business Studies – Public Authority of Applied Education and Training
Abstract:
This research paper aims to shed light on the important aspects of arbitration methods of boards of directors. The research begins with a discussion of the meaning of arbitration in general as well as in some foreign and Arab companies, and ends with an analysis of arbitration rules in the Kuwait Capital Markets Authority (CMA).
In part one, the research tackles the principle of arbitration in the activities of boards of directors regarding transparency in appointing their members and forming the board. Then the research provides a discussion of the financial rights of the board of directors. In the second part, the paper discusses the responsibilities of the board of directors and the executive management according to arbitration requirements. In addition, the research focuses on the internal and external censorship (first part) and on the implementation of arbitration rules (second part).
The study concludes with recommendations directed to both the Kuwaiti legislature and the CMA.