The Qatar Financial Markets Authority (QFMA) has announced the issuance of the code of governance for listed companies.
In accordance with the Board of Directors Resolution No. (5) of 2025, all parties covered by this system are required to ensure compliance with its provisions within one year from the date of its publication in the official gazette, QFMA said in a statement.
This code addresses many topics, encompassing the duties and responsibilities of the board of directors, its composition and membership requirements, board practices and conflicts of interest, board committees, the senior executive management, the internal control system, the principles and policies for granting remuneration and incentives, communication between the board and shareholders, disclosure of corporate governance, and companies in which the government is a stakeholder.
A set of principles was observed in drafting the provisions of this code, including transparency and clarity, justice and equality, and responsibility, oversight, and accountability.
QFMA Director of Governance and Disclosure Department, Khalid Saif Al Sulaiti, said in a statement to QNA that this new code is a crucial step in keeping up with the advancement of the capital market’s regulatory framework to meet the highest international standards, and in a manner consistent with the characteristics of the Qatari financial market.
The initiative aims to reinforce principles of transparency and integrity, while safeguarding shareholders’ rights, thereby strengthening confidence in the Qatari capital market.
The code replaces the previous framework issued in 2016, and includes substantive amendments, most notably raising the minimum number of board members for listed companies to seven, while setting a maximum limit of 11 members, Al Sulaiti added.
