Limit directorship for listed firms

In order to protect the rights of shareholders, Capital Market Authority (CMA) has to improve on its corporate governance code and mechanisms.

The board of directors is one of the corporate governance mechanisms, which has received increasing attention in recent years. In fact, the effectiveness of the board of directors reflects its ability to perform its role in the firm accurately, especially the primarily oversight role. Within this role, the board of directors does the monitoring of management and the oversight of the quality of financial disclosure.