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Al-Masri: New rules for disclosures comprehends executives managers' salaries and bonuses

2008-06-01

The capital market authority board chairman Mr.Maher Al-Masri revealed that the CMA had finished preparing new instructions for PSE listed companies disclosures, which comprehends an annual disclosure of salaries and bonuses that the executives" managers in the listed corporations attain. Al-Masri said " There is a huge development in disclosures rules that constitute CMA" officials and employees, this disclosures will not be financial only but administrational also". Under these new instructions, Al- Masri said "massive improvements had been inserted on the quarter disclosures in aim to lift the quality of disclosed financial results". Al-Masri considered the new instructions as another step in implementing the disclosures system in the stock market that "had vouched a development within the past two years, and contributed in market stability in spite of political instability, as it also contributed greatly in aboard investment portfolios" polarization". On the other hand, Al-Masri announced that the coming 3 months will attest listing 6-8 corporations in the PSE, after the CMA had accomplished a numeration process of all the corporations that had interpolated the listing requirements, and this all within the corporation with companies" inspector in the national economy ministry".