Kingdom of Saudi Arabia, Riyadh:  “L'azurde” Company for Jewelry, -the most prominent brand in designing, manufacturing, and distributing jewelry in Saudi Arabia and the Middle East-, received the Excellence Award in the Corporate Governance Index (CGI), issued by the Corporate Governance Center (CGC) at Al-Faisal University. The company was also classified among the list of twenty in the governance index among the non-financial sector companies traded on the Saudi Stock Market “Tadawul”, achieving remarkable progress in the index after it was previously classified among the list of thirty.

This was announced during the Corporate Governance Awards ceremony for the fiscal years 2021-2022, which was held at the Al-Faisal University headquarters on Wednesday, 8 May 2024.

Reflecting on this significant milestone, Sélim Chidiac, CEO of L’azurde, expressed his profound pride in the company's exceptional governance leadership performance, stating: “We are deeply honored to have received the CGI Excellence Award. This recognition is a testament to our unwavering commitment to compliance with the standards and regulations issued by the Capital Market Authority and their application and practice in the best manner.”  

Chidiac considered good governance the key to companies' achieving sustainable success and building investor confidence. He pointed out that the interest in governance reflects the company’s commitment to transparency, integrity, and accountability, which is an essential factor in attracting investments and enhancing confidence in the company’s performance. He added that “L'azurde” will continue its journey in applying the highest governance standards and practices, with the aim of achieving greater progress and success in the future, in all its operations in the Kingdom and the Middle East.

Notably, the Corporate Governance Awards of Al-Faisal University are considered one of the largest and most prestigious governance awards. They are given to companies that comply with the governance principles issued by the Saudi Capital Market Authority, the ninth-largest financial market in the world and first in the Middle East and North Africa.

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