Survey of governance of SWFs from Muslim countries
| Board of directors’ details (yes or no) | Board committees (yes or no) | Santiago principles (yes or no) | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sr. No. | Name of fund | 1 | 2 | 3 | 4 | 1 | 2 | 3 | 4 | 5 | 6 | Govt and fund association | 1 | 2 | 3 | 4 | 5 | Remarks | Rank |
| 1 | ADIA | Y | 7 | N | Y | Y | Y | Y | Y | Y | N | (i) Independent (ii) Govt provide funds | Y | Y | Y | Y | Y | Good presentation of CG | 1st |
| 2 | KIA | Y | 9 | N | N | Y | Y | Y | N | N | Y | (i) Independent (ii) Govt provide funds | Y | Y | Y | N | Y | Reasonable information is available as compared to others | 2nd |
| 3 | SAMA-FH | N | N | N | N | N | N | N | N | N | N | No information | N | N | N | N | N | No official website and repots, etc. | 8th |
| 4 | QIA | Y | 7 | N | Y | N | N | N | N | N | N | (i) Independent (ii) Report to (SCFAI) | Y | N | N | Y | Y | Lack in proper information | 3rd |
| 5 | PIF | Y | 9 | N | N | Y | Y | Y | N | N | Y | (i) Independent fund (ii) Report to CEDA | Y | N | N | N | Y | Lack in proper information | 4th |
| 6 | ICD | Y | 5 | N | N | N | N | N | N | N | N | No information | Y | N | N | N | N | Lack in proper information | 5th |
| 7 | MIC | y | 7 | N | N | N | N | N | N | N | N | No Information | N | N | N | N | N | No Information but have official website | 6th |
| 8 | ADIC | N | N | N | N | N | N | N | N | N | N | No information | N | N | N | N | N | No official website | 8th |
| Board of directors’ details (yes or no) | Board committees (yes or no) | Santiago principles (yes or no) | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sr. No. | Name of fund | 1 | 2 | 3 | 4 | 1 | 2 | 3 | 4 | 5 | 6 | Govt and fund association | 1 | 2 | 3 | 4 | 5 | Remarks | Rank |
| 1 | ADIA | Y | 7 | N | Y | Y | Y | Y | Y | Y | N | (i) Independent | Y | Y | Y | Y | Y | Good presentation of CG | 1st |
| 2 | KIA | Y | 9 | N | N | Y | Y | Y | N | N | Y | (i) Independent | Y | Y | Y | N | Y | Reasonable information is available as compared to others | 2nd |
| 3 | SAMA-FH | N | N | N | N | N | N | N | N | N | N | No information | N | N | N | N | N | No official website and repots, etc. | 8th |
| 4 | QIA | Y | 7 | N | Y | N | N | N | N | N | N | (i) Independent | Y | N | N | Y | Y | Lack in proper information | 3rd |
| 5 | PIF | Y | 9 | N | N | Y | Y | Y | N | N | Y | (i) Independent fund | Y | N | N | N | Y | Lack in proper information | 4th |
| 6 | ICD | Y | 5 | N | N | N | N | N | N | N | N | No information | Y | N | N | N | N | Lack in proper information | 5th |
| 7 | MIC | y | 7 | N | N | N | N | N | N | N | N | No Information | N | N | N | N | N | No Information but have official website | 6th |
| 8 | ADIC | N | N | N | N | N | N | N | N | N | N | No information | N | N | N | N | N | No official website | 8th |
Notes: ADIA, Abu Dhabi Investment Authority (UAE-Abu Dhabi); KIA, Kuwait Investment Authority (Kuwait); SAMA-FH, SAMA Foreign Holdings (Saudi Arabia); QIA, Qatar Investment Authority (Qatar); PIF, Public Investment Fund (Saudi Arabia); ICD, Investment Corporation of Dubai (UAE-Dubai); MIC, Mubadala Investment Company (UAE-Abu Dhabi); ADIC, Abu Dhabi Investment Council (UAE-Abu Dhabi); SCFAI, Supreme Council for Economic Affairs and Investment; CEDA, Council of Economic and Development Affairs. The table represented the survey and analysis of the governance of the top eight SWFs and ranked them in eight positions; Variables: (i) board of directors’ details (1. Information available, 2. Size of the board, 3. Number of meetings, 4. Governance organism); (ii) Board committees (1. Audit committee, 2. Investment committee, 3. Risk management, 4. management committee, 5. governance committee, 6. Executive committee); (iii) Santiago principles (1. Information is given, 2. Adoption of principles, 3. Detail compliance with all 24 principles, 4. Governance framework, 5. Investment policy framework). Y=Yes; N=No
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