Corporate Governance in Saudi Arabia

INTRODUCTION Kingdom of Saudi Arabia is regarded as one of the most religious and conservative countries in the world because of the two most sacred cities of Islam, Mecca and Medina. Mecca is considered to be the most sacred Muslim city, as it is the seat of the Grand Mosque and Kaiba (Muslims must do pilgrimage at least once in their lives) . For these reasons, both physically and physically, these are considered to be excluded from this requirement.

Saudi Arabia is a priesthood country. Al Saud or Saudi House is the name of the royal family of Saudi Arabia. Saudi Arabia is a Muslim country, and the Saudi Arabian government has established rules based on various aspects of Muslim teachings. It is not permitted to practice public religion other than Islam. All citizens of the country must be Muslims, and conversion to other religions will be punished by law. The spread of other beliefs is forbidden. About 99.3% of Saudi Arab people are Sunni Muslims. September 23 is a secular holiday of a country known as the national day, commemorating the establishment of Saudi Arabia 's modern kingdom. The remaining statutory holidays are all related to Muslim. Eid al-Fitr, Eid al-Adha, Mawlid An-Nabawi are part of Islamic festivals and events observed in the country. Ramadan's observation in Saudi Arabia influenced the human aspect of the life of Saudi Arabia. During Ramadan, shops and services are closed down and working hours are usually shortened.

The modern Saudi Arabian region consisted primarily of four different regions: Hejaz, Nazid, East Arabia (Al-Ahsa) and South Arabia ('Asir). The Kingdom of Saudi Arabia was founded in 1932 by Ibn Saud. He unified the four regions into one country through a series of conquests and began to occupy Riyadh, a house of Saudi Arabia, an ancestral home of his family since 1902. Since then, Saudi Arabia is a monarchy, which is actually a dictatorship rule that ruled along the rule of Islamism. The ultra-conservative Waha'i religious movement in Sunni Islam is known as the "main feature of Saudi culture", its worldwide spread is largely covered by trade in oil and gas. Saudi Arabia is sometimes called "two sacred mosque country" and refers to Al-Masjid al-Haram (Mecca) and Al-Masjid an-Nabawi (Medina), the most common Islam. Two sacred sites As of 2017, the population was 33 million people. The official language of the country is Arabic.

The Saudi Arabian government is best explained as an absolute monarchy. Currently led by Abdullah bin Abdul Aziz Shah of King Saudi Arabia, and Guardian of the Two Holey Mosque, he is the head of the government and head of state. Saudi Arabian families led by the leaders of the day have fully managed all government agencies and have not been disputed by any other agency in the state. Government authority belongs to several fields. The views of Saudi Arabian families and uranium-Islamic scholars and officials are very important to the current monarch. . In 1992 the monarchy tried to form Saudi Code of Civilization, cooperated with the Quran and formalized it to the country's Nizam or "Leader Code".