Regulatory Alerts2021-10-06 | No. 132/2021Corporate Governance Principles for Companies in Which the Government Owns Shares
The Minister of Finance and Capital Market Authority Chairman issued Decision No. 132/2021 to establish comprehensive corporate governance principles for Omani companies in which the government holds shares. The regulation mandates that affected entities align their operations with these standards within twelve months, requiring boards to comprise at least one-third independent non-executive members and enforcing strict transparency through quarterly financial disclosures and annual governance reports. It further clarifies the government's role as a strategic owner, ensuring separation from daily management while preserving voting rights and financial liability boundaries.
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