|
Invitation to the Award
Hawkamah Institute for Corporate Governance and the Emirates Bankers' Forum have great pleasure in inviting submissions for the UAE Bank Corporate Governance Award.
Following the success of the first-ever Hawkamah-UAB Bank Corporate Governance Award (Regional) that was launched in partnership with the Union of Arab Banks last year, and that has evoked great interest among banks in the region including: Bahrain, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Morocco, Qatar, Sudan, UAE and Yemen, Hawkamah and the Emirates Bankers' Forum have agreed to launch a UAE country specific Award to highlight the improvements in Corporate Governance in the UAE and further encourage UAE banks to implement and improve their corporate governance practices.
Who is eligible?
The Award is open to all UAE Banks.
What are the criteria?
Hawkamah has identified the following 5 items as criteria for selection of the winner:
- Commitment to good Corporate Governance
- Structure of the Board
- Control Environment and Processes
- Transparency and Disclosure
- Treatment of Minority Shareholders
What is the entry submission process?
Applicants need to complete the entry form available on the Hawkamah website under the CG Awards section. The Entry form covers the following:
- Basic Information & Completed Questionnaire
- Application Fee of 1,000 USD
- The Bank's Annual Report*
- Accompanying support material*
The initial submission process is focused solely on the entry form.
* Applicants will be asked to provide additional information at a later date to aid the decision-making process. All accompanying supporting material should be addressed to:
Miss Lara Arab
Hawkamah Institute for Corporate Governance
Phone: +971 4 362 2557
Fax: +971 4 362 2552
Email: lara.arab@hawkamah.org (please include Subject: The UAE Bank CG Award)
Submission of applications starts on 27 April 2008 and ends on 31 August 2008.
What is the judging process?
The Award is decided by an assessment from a prominent jury of international bank experts based on the information provided and interviews with the finalists. The Hawkamah Institute and the Emirates Bankers' Forum will not participate in auditing the answers.
The Award winners will be announced during the Emirates Bankers' Forum lunch on the 30th of October 2008, in Dubai, UAE.
Prizes will be awarded in the following categories:
- Overall Corporate Governance Structure
- Board Governance
- Transparency and Disclosure
Non-Disclosure & Confidentiality
Names of Banks and applicants, commentary and scoring information developed during the review of applications are regarded as proprietary by the Hawkamah Institute of Corporate Governance and are kept confidential. Such information is available only to those individuals directly involved in the assessment and administrative process consistent with the Dubai International Financial Centre (DIFC) Data Protection Law (www.dp.difc.ae).
The Hawkamah Institute will take all reasonable action to ensure that applications and information therein are treated in strict confidence. However, in no way can The Hawkamah Institute be held responsible for any loss of confidentiality to a third party.
|
