Corporate Governance in the Arab world is particularly challenging to put into effect. The importance of its sound implementation needs to be seriously considered in preparation for the evolving economic dynamics of Middle East & North Africa countries (MENA) and their increasing need for organic growth, independent of their diminishing reliability on natural resources - such as oil - to nurture its nation states.
Dr. Farouk El-Kharouf had founded Global Strategy & Governance S.A. (GSG) in order to direct strategic repositioning projects for clients that included MENA central banks. Prior to that, he held the position at one of the most prolific Arab banks in the world, Arab Bank Group (ABG), as their Chief Financial Officer (CFO) and Head of Strategic Planning. His tenure with ABG lasted 28 years.
Amongst the notable achievements by Dr. El-Kharouf was obtaining an (A-) rating from the rating agencies of Moody’s, S&P, and Fitch at the time when the sovereign rating was only (BB), a feat that until that time was unprecedented.
Dr. El-Kharouf had made it his mission to ingrain corporate governance in the MENA region: below is a sample of his published literature that includes topics around corporate governance. He continues to investigate the role of corporate governance within Arab society with the goal to encourage the adoption of healthy corporate culture to better serve its people.
(For more information about Dr. Farouk El-Kharouf, click here)
LITERATURE
“Evolution of Arab Governance: From Pre-Islamic Times to Early Islam”
Farouk El-Kharouf, (2024),
“Aladdin's Lamp: In the Hands of Each and Every One of Us”
Farouk El-Kharouf, (2015),
Farouk El-Kharouf, Sulayman Al Qudsi, Shifa Obeid (2010), Asian Economic Papers, Vol. 9, No. 1, pp: 124-151
“A Scoring Model for Measuring Corporate Governance"
Farouk El-Kharouf (2002), The Arab Bank REVIEW, Vol. 4, No. 2, pp: 36-45
“Corporate Governance in Banking Organizations”
Farouk El-Kharouf (2000), The Arab Bank REVIEW, Vol. 2, No. 1, pp: 54-59.
“Strategy, Corporate Governance and the Future of the Arab Banking Industry”
Farouk El-Kharouf (2000), The Arab Bank REVIEW, Vol. 2, No. 2, pp: 30-39.
“The Proposed BIS New Capital Adequacy Rule: Enhancement of Measures at the Expense of Fairness”
Farouk El-Kharouf (1999), The Arab Bank REVIEW, Vol. 1, No. 1, pp: 18-21.
“Basic Elements of an Integrated Risk Management System”