I am of two minds here.

First, of course, there is nothing inherently more transparent in merely publishing some financial information or a Annual Report in English. Certainly it puts non Arabic speakers at a disadvantage, but unless there is some control that ensures that the English is (i) manifestly the same material and materially equal to the original Arabic and (ii) is itself a complete record up to standard, it's merely deceptive to publish in English.

Indeed, I have had the experience, when I was working on private equity investments in that Machreq, of finding that the English publication was ... not materially the same as the Arabic, and in fact the investees Arabic documentation had rather juicy items, whereas the English was .... bland and uninformative. Oddly in a few instances, I had the sense this merely came from the burden of language and not active deception. Of course for some companies their active working language is in fact English, and for them there's no excuse, but I'm focusing on the companies that actually are operating in Arabic (now if they actually are is another question of interest).

Second, publishing in English for smaller listed firms probably doesn't really add much in terms of transparency, given probable potential demand, although highly standardised accounts publication with bilingual notes would not be so burdensome I should think.

At the same time, there is something to be said for holding the largest firms, the "Blue Chips" to that standard of transparency, with full accounts publication in English. Of course many of those firms in fact do operate in English, but have to publish in Arabic for national reasons. There one finds funny gymnastics going on.