Arab States as Shareholders: Origins and Consequences

Amico, Alissa

doi:10.4000/poldev.2282

Cited by 2 publications

(4 citation statements)

References 9 publications

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“…The emergence of government shareholders followed two major factors: first, the post-colonial government in the Gulf strove to deliver basic services that stimulate state establishment of shareholder enterprises to form a range of regulatory, commercial and social functions (Amico, 2017). For instance, the Kuwait Petroleum Corporation was fully nationalised in 1975, when the government acquired the remaining 40% stake from British and American Gulf Oil [2].…”

Section: Legal Framework For Dealing With Briberymentioning

confidence: 99%

Corporate criminal liability for Bribery in Kuwait: issues in disclosing commissions

Al-Oumi

2021

JFC

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Purpose This study aims to critically analyse corporate criminal liability for bribery in Kuwait, by focusing on laws and regulations as key problem-solving mechanisms. To that end, it identifies and assesses the existing anti-bribery laws in Kuwait, including a legal evaluation based on international standards. This study raises several issues concerning the lack of regulations of private bribery, facilitating payments and kickbacks in government contracts, and gifts and hospitalities in private sector, using UK Bribery Act 2010 (UK BA 2010) as a reference. This study showcases how these legal shortcomings are inconsistent with international treaties, and undermine efforts to tackle corruption. Emphasis has been put on criminalising private bribery, regulating the acceptance of hospitalities and gifts and abolishing the commission payment regime in public contracts in Kuwait. Design/methodology/approach Adopting a doctrinal focus, this paper examines case studies on curbing corporate bribery using both primary and secondary sources. Given the increasingly transitional and organised nature of business corruption, extravagant gifts and facilitating payments in public procurements globally, a comparison is drawn with the UK BA 2010. Findings Kuwait’s legal system does not criminalise bribery in private sector. Its anti-bribery laws are not at par with international standards. Therefore, the laws on disclosing commissions in public contracts must be abolished, and facilitating payments and hospitality payments in private sector must be regulated. Originality/value This study explores corporate criminal liability for bribery in Kuwait by investigating the weaknesses and legal shortcomings of the existing anti-bribery laws, and proposing reforms to counter these using UK BA 2010 as a guide.

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Section: Legal Framework For Dealing With Briberymentioning

confidence: 99%

Corporate criminal liability for Bribery in Kuwait: issues in disclosing commissions

Al-Oumi

2021

JFC

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“…Some of them play a dual role as market regulators and commercial operators and pursue conflicting objectives (OECD, 2012, p. 30). The Dubai Roads and Transport Authority oversees the contribution and operation of the Dubai Metros even while operating a state-owned taxi, bus and intercity transport network (Amico, 2017). Their profits grow phenomenally owing to their monopolies and privileged positions, creating conditions of rentier capitalism.…”

Section: Rentier Capitalism and Reproduction Of The Elitementioning

confidence: 99%

“…They have been attempting, with a varying degree of success, to create a level playing field for the private sector to compete with the SOEs. Many of the countries have put in place competitive laws and regulators (Amico, 2017), but the working of many SOEs is shrouded in secrecy due to non-transparency, nepotism and corruption. Many SOEs continue to be exempted from oversight regulations like Dubai Road and Transport which works both as regulator and enterprise (Amico, 2017).…”

Section: Rentier Capitalism and Reproduction Of The Elitementioning

confidence: 99%

“…Many of the countries have put in place competitive laws and regulators (Amico, 2017), but the working of many SOEs is shrouded in secrecy due to non-transparency, nepotism and corruption. Many SOEs continue to be exempted from oversight regulations like Dubai Road and Transport which works both as regulator and enterprise (Amico, 2017). In Egypt, the military-controlled enterprises are outside the purview of the Administrative Control Authority, which checks corruption in SOEs (Noll, 2019, p. 40).…”

Section: Rentier Capitalism and Reproduction Of The Elitementioning

confidence: 99%

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Political Economy of Rentierism in the Middle East and Disruptions from the Digital Space

Hameed

2020

Contemporary Review of the Middle East

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Rentierism in the Middle East and North Africa (MENA) region had emanated both from significant external rent and from the statist model of development feeding each other, where legitimacy was secured through rent distribution. The rent-led resource imbalance between the state and the society, as well as intra-societal inequalities in the region, has been less recognized and studied. The flow of external rent in tandem with internal rent-seeking has perpetuated the wealth and power of the political and economic elites and limited economic opportunities of the larger population. The rentierism that bred on vertical controls and network of privileges is set to be disrupted from flows and connectivity generated in the growth of digital commerce in the region.

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Arab States as Shareholders: Origins and Consequences

Cited by 2 publications

References 9 publications

Corporate criminal liability for Bribery in Kuwait: issues in disclosing commissions

Corporate criminal liability for Bribery in Kuwait: issues in disclosing commissions

Political Economy of Rentierism in the Middle East and Disruptions from the Digital Space

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