Shariah and Corporate Conduct: Tracing the Evolution of Corporate Disregard in Saudi Arabia through Historical Perspectives

Abstract

The framework of corporate governance in Saudi Arabia strongly aligns with Shariah law, which emphasizes principles of honesty, fairness, transparency, and social responsibility in business practices. This study delves into the historical context of corporate disregard in Saudi Arabia, tracing its origins and development within the country's legal framework. The analysis encompasses a comprehensive review of the evolution of corporate law, judicial precedents, and legislative reforms that have shaped the application and interpretation of corporate disregard in Saudi Arabia. The historical trajectory reveals the dynamic nature of corporate governance and liability in Saudi Arabia, highlighting the influence of cultural norms, economic imperatives, and legal adaptations. The nuanced understanding of historical developments offers a foundation for comprehending the contemporary application of piercing the corporate veil in Saudi Arabia and informs discussions on potential future trajectories in corporate law and business practices within the country.