‘Serious efforts needed to bring best practices to family firms’

The forum "The Best Governance Practices for Combating Corruption in Family Businesses,” was held at the headquarters of the Council of Saudi Chambers in Riyadh. Representatives of a number of international organizations and CEOs of family businesses participated, among others. Speakers at the forum said serious efforts are needed to bring the concept of good governance to family-run businesses in the Kingdom. It was called for generalizing the culture of good governance in private sector firms as well as in government institutions, commissions and ministries and all civil society institutions. Good governance culture should prevail not only in financial aspects, but in all legal, administrative and financial work that combats corruption of all kinds.