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  "documentTitle": "KPMG 2020 CEO Outlook: COVID-19 Special Edition",
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  "notes": "Includes specific references to Saudi Arabia-based CEOs and SAMA (Saudi Arabian Monetary Authority) regulatory actions.",
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      "text": "79 percent of CEOs say they have had to re-evaluate their purpose as a result of Covid-19",
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      "text": "79 percent of CEOs say they have had to re-evaluate their purpose as a result of Covid-19.",
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      "text": "CEOs re-evaluating purpose: 79%",
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      "text": "This sentiment has set the tone for a global re-focusing on purpose in light of the Covid-19 pandemic. Seventy-nine percent of global CEOs say they feel a stronger emotional connection to their corporate purpose since the crisis began. At the same time, however, the massive disruptive impact of the pandemic has caused many CEOs to question whether their current purpose really meets the needs of stakeholders. In fact, 79 percent say they have had to re-evaluate their purpose as a result of Covid-19.",
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      "text": "The necessity of stakeholder dialogue during the pandemic may be no more evident than in the relationship between regulators and the private sector. In formulating its business continuity plan (BCP), the Saudi Arabian Monetary Authority (SAMA) paid close attention to the Covid-19 action plans set forth by Saudi financial institutions. One area of importance was digital banking channels, which can be utilized to decrease physical interactions. Resultingly, SAMA promoted the usage of digital banking channels and allowed payment service providers (PSPs) to raise the monthly top-up ceiling limit for e-wallets.",
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      "text": "With profound consequences for people's health and livelihoods – as well as the future of companies and industries – the pandemic has presented CEOs with the greatest possible test of their leadership abilities and personal resilience.",
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      "text": "A renewed sense of purpose\nAt the beginning of the year, CEOs' attitudes towards their organization's purpose was swinging in the direction of their stakeholders, rather than their shareholders. In a January survey, 56% of Saudi Arabia-based CEOs said their organization's overall objective is to build long-term value for stakeholders, compared to only 22% stating that economic returns to shareholders defined their objective. Furthermore, 22% said improving society and the public interest is their organization's objective.",
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