BMG: Parallel Market Is a Huge Opportunity For Family Business
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Sunday, 26 February 2017
The CEO of BMG Financial Group Basil AlGhalayini said, in an interview with “Al Arabiya News” , that the parallel market is crucial for family businesses as it accommodates these firms and protect their equity values from dropping .
AlGhalayini added that the Saudi Stock Exchange “Tadawul” has carried out workshop sessions for the families who are listing their companies on the parallel market, however the greater challenge is the governance of these companies.
AL Ghalayini pointed out that the difficulties facing the corporate governance of these family businesses is because these companies are used to following legal and accounting regulations that allows the family to take decisions on their own, while the governance states that the management must be independent of ownership.
Moreover, he stressed that Nomu-Parallel Market will help the listed companies to promote the principles of corporate governance.