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Governance & Integrity Rating (GIR)

The purpose of Capital Concept's GIR score is to provide an independent opinion on the governance structures and procedures of individual companies.  The benefits of an independent rating mechanism on such matters are multi-dimensional. For example, the criteria used by our GIR can provide a platform for comparable ratings as well as a regional and global benchmark for investors and companies to refer to.

In a globalized economy where investors are increasingly interested in good governance, risk management and strategic processes, our GIR can be referred to as a credible source of information on governance issues to the following: investors (institutional and private), creditors, regulators, insurers, consultants and financial advisors, analysts and academics, and of course board and managements of companies. 

With its integrity, objectivity and innovation, and with the support of regulators across the region, Capital Concept's goal is to be the primary destination for investors, shareholders and other stakeholders, in the MENA region, to have access to the insight which enables them to better assess corporate governance practices and thus strengthen their ability to make sound business and investment decisions. 

More specifically, a GIR score can help specific companies in the following ways: 

  1. As a tool to inform current and potential investors on standards of good governance and mechanisms in individual companies which are already in place to manage risks.
  2. As a potential roadmap to shareholders, board members and management on specific areas where standards of corporate governance can be further improved.
  3. As a guide for shareholders when voting during Annual General Meetings and board meetings.

GIR's criteria analyze a company's governance structures and procedures against its corporate governance criteria.  These criteria have been developed based on international best practice (such as defined by the OECD, the IFC, and the GCGF) as well as through our own experience in conducting assessments and analysis since 2007. 

A company which undergoes a GIR rating will receive a score for each of the categories mentioned above, as well as a general score which is an average of the individual category scores.  The numeric scoring scale goes from 1 to 10 (with 10 being the best possible score).  Ultimately, it is the company's decision whether the GIR score is made public or not. 

Banks and companies with a low or no GIR score are perceived as not transparent and weak in their corporate governance commitment in front of institutional investors, regulators, international organizations (such as the OECD and IFC) and their peers, leaving their investors thinking twice before investing. 

The GIR score allows for the comparison of individual companies within a specific jurisdiction, as well as the comparison of companies across different jurisdiction.

 

 
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