Kuwait Ranked Second In The Gulf In “trace Bribery Risks”

Kuwait fell 12 places in the TRACE bribery risk index for 2021, compared to 95 globally after it was 83rd during 2020, while it ranked second at the level of the Gulf Cooperation Council countries, after the UAE, which ranked 54th globally.

Oman ranked third in the Gulf and 114 globally, followed by Saudi Arabia ranked 121 globally and Qatar and Bahrain in 123 and 138, respectively.

According to TRACE data, Kuwait scored a weighted average score of 48 in the following areas:

■ Opportunities: bribery risks arising from the interaction between companies and the government (51 points).

■ Deterrence and Law Enforcement: The strength of formal and informal deterrence in combating bribery (55 points).

■ Transparency: the government’s transparency in implementing regulations (38 points).

■ Oversight: The strength of civil society and the press in oversight (46 points).

TRACE said that from 2020 to 2021, all Gulf countries witnessed an increase in the risk of commercial bribery.

“Over the past ten years, the environment for commercial bribery risks has worsened and exacerbated significantly in countries that have also experienced democratic decline, such as Venezuela, Turkey, Poland and Hungary,” TRACE added.

Over the past five years, the business bribery risk environment in the United States has worsened significantly, when compared to global trends.

The countries that showed the greatest trend towards improving the factors underlying the risks of commercial bribery are Uzbekistan, Gambia, Armenia, Malaysia and Angola.

According to TRACE, North Korea, Turkmenistan, Venezuela and Eritrea have the highest rates of commercial bribery risks, while Denmark, Norway, Finland, Sweden and New Zealand have the lowest rates of commercial bribery risks.

It is noteworthy to make a mention that the index measures the risks of commercial bribery in 194 countries, as the TRACE Foundation sets standards for combating bribery in the field of business and commerce.

 

SOURCE   :   TIMES KUWAIT

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