Arig scores highest among 607 companies listed in Gulf

The BASIC (Behavioral Assessment Score for Investors and Corporations) index developed by The National Investor (TNI) of Abu Dhabi in partnership with Hawkamah Institute for Corporate Governance, Dubai, improved by 8.3% since 2008 - an indication of the rapid progress made by regionally listed companies in improving transparency and disclosure.

"All crises have an upside too", stated Dr. Nasser Saidi, Director of Hawkamah. "Shrinkage of the financial pie has resulted in greater competition for the available capital, which, in turn has forced Gulf firms to adopt better corporate governance policies."

For the second year running, Arig (Arab Insurance Group) of Bahrain took Number One honors among the 607 companies listed in the Gulf, which for the first time included NASDAQ firms listed in Dubai. Runners up included UAE companies Emaar Properties, Sorouh Real Estate, Abu Dhabi Commercial Bank and Aldar Properties.

"We are extremely pleased and proud to be selected as the leader in terms of transparency, disclosure and corporate communications for the second year running. This is a wonderful reward for our efforts to be as open and informative to our stakeholders as possible."

Yassir Albaharna, CEO of Arig, commented in accepting the award.