BMG will be hosting the Transparency Award annually to celebrate the most transparent companies on the Saudi Stock Exchange "Tadawul". Our first Award ceremony was held on July 5, 2008 to celebrate the finalists and crown the 3 winners.
Across the world, there is an economic benefit from being transparent and cooperative with the stock market since, in general, more open companies have a higher level of trust from shareholders, and in terms of perception and brand. To be listed on a stock market means that a company, necessarily, has to be more open than a private company, in that this means more than just publishing results on a timely basis. The MENA region lags behind other regions of the world in terms of the provision of information from listed companies, and the reason for this award is to stimulate and encourage companies to realize that the more open they are, the more that shareholders tend to trust the management and their corporate strategy.