The National Anti-Corruption Commission (Nazaha) has called upon all listed Saudi companies to allow shareholders and citizens to review procedures related to purchase agreements and provide mechanisms for reporting these agreements.
The public must also be able to view these documents, which should be published in the media. Nazaha said that it introduced such measures to increase credibility and bolster the confidence of investors.
Nazaha is pursuing a national strategy to protect integrity and fight corruption pursuant to a decision by the Council of Ministers to establish the principle of transparency within institutions of the state through a number of measures.
Nazaha also asked that the public and institutions of civil society be allowed to review government purchase agreements and public institutions, as well as the public-listed companies, emphasizing that they have the right to scrutinize these documents.
Nazaha asks firms for financial transparency
