Hawkamah, jointly with its International Partners has launched 6 Task Forces on Corporate Governance in areas of Insolvency and Creditors Rights, Banks, State Owned Enterprises, The Insurance Sector, Private Equity and Islamic Banks and Financial Institutions. The purpose of developing these Task Forces is to introduce reforms in the MENA region by inviting and engaging the Policy makers from start as members of these Task Forces.
All of Hawkamah's Task Forces have similar procedure of working. Hawkamah first develops a Questionnaire to take stock of the existing corporate governance framework and practices of organisations across the MENA Region. The questionnaire is then sent in an electronic form to all the Task Force (TF) members seeking their feedback on the questions included in the questionnaire. In light of the TF members comments, the questionnaire is revised by Hawkamah and the final Questionnaire is then circulated to the relevant contacts in the MENA jurisdictions requesting them to complete the questionnaire. The received responses are analyzed and collated in the form of a Policy Brief which summarises the results of the survey, benchmarks the existing CG frameworks with International best practices and contains concrete policy recommendations for the governments and regulatory bodies of the countries covered under the survey.
The Task Force members meet around 2-3 times during the tenure of the Task Force to finalise and discuss the policy brief. The Policy Brief is then introduced at the Hawkamah Annual Conference.
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