FIRM (Forum For Insolvency Reform in Mena)
FIRM (Forum For Insolvency Reform in Mena)
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The 2009 regional symposium on insolvency laws and creditor rights systems organized by Hawkamah, in association with the OECD, the World Bank Group and INSOL International on May 26-27, 2009 in Abu Dhabi, UAE (Symposium) brought together officials from MENA countries. Towards the end of the 2 day Symposium, a declaration called the ‘Hawkamah Declaration’ was issued affirming the commitment to modernize insolvency regimes in the MENA region.

One of the key resolutions of the Hawkamah Declaration was the commitment to establish a regional forum on insolvency reform, the purpose of which is to engage, educate and inform stakeholders about insolvency reform and to serve as a platform for sharing international and regional best practice and experiences.

Founded by Hawkamah, The World Bank Group, INSOL International and OECD (Founding Members) in 2010, the Forum For Insolvency Reform in MENA (the "FIRM") is a Membership organisation organised around periodic meetings that facilitate and deepen the dialogue on Insolvency Reform in the region. The FIRM is the only platform dedicated to discuss and debate Insolvency Reforms in MENA. The FIRM was officially inaugurated on the occasion of the INSOL International regional conference, at a first regional FIRM roundtable organized by Hawkamah, in association with the, the World Bank Group, OECD and INSOL International on February 24, 2010 in Dubai. The meeting brought together officials, policy makers and representatives from UAE, Turkey, Tunisia, Oman, Egypt, Qatar, Saudi Arabia, Lebanon and Jordan.

The FIRM Communique was also issue don this occasion laying down the areas of focus for the FIRM which includes holding organizing capacity building programs for the Judiciary (link to the MENA JC events).

The Hawkamah Declaration English | Arabic

FIRM Communique Brief about the FIRM MENA Judicial and Financial Colloquia 2011 2012 2014 FIRM NEWSLETTER – 2014

Testimonials

  • "A journey full of knowledge, experience and professionalism . I have learned a lot and definitely enjoyed the time I spent with my colleagues."

    Ibtihal Al-Shamali- Director of Corporate Governance- Capital Market Authority of Kuwait

  • The breakfast meetings organised by Hawkamah provide attendees with a great opportunity to meet with peers from leading organisations and exchange ideas on current issues and challenges. A strong panel of industry experts discussing the challenges from different perspectives on ‘How to get the board more engaged’ was most insightful and engaging with enthusiastic audience participation especially in matters regarding diversity and quality of information that is  presented to the board for effective decision making. I look forward to more such events that are organised by Hawkamah

    Sunil Edwards- Group Head of Internal Audit  - Bank of Sharjah

  • The power breakfast on board engagement organized by Hawkamah in collaboration with Diligent was a successful event, very insightful and informative and well organized

    Mostafa Ibrahim Abdeltawab - Tax Agent & Consultant  - Skylines Tax Consultancy

  • There is absolutely no doubt that Hawkamah – as always – has done unmatchable effort in producing its most recent valuable report in association with Diligent about Board Best Practices in the MENA. The discussions that took place in the “Power Breakfast” was so important and insightful; the influx of questions by the quality participants and the valuable answers of the quality panelists is a clear proof of Hawkamah continued success in such events. 

    Yasser Al Dabach – Board Secretary – Ghobash Trading & Investment Group

  • The technical knowledge, insights, case studies and learning provided by the ‘Director Development Program’ are very useful and effective in framing the strategic planning, implementation and delivery phases of growth plans in the difficult economic and geo-political times that we are operating in.

    Hisham Dimashki – CEO - BAP LLC – (associated with GM Trading Companies - Washington DC)

  • The certified Board Secretaries Workshop provided by Hawkamah and Dubai Financial Market is an essential course for learning corporate governance, scope and responsibilities of the board secretary and understanding the governance and disclosure requirements of the Dubai Financial Market and the Securities and Commodities Authority. It is a practical course which combined recent best practices and key learning lessons. I would highly recommend it for people involved in corporate governance and in particular in a listed company.

    Omran Al Zamani - Senior Legal Counsel - Dana Gas PJSC

  • Great program! Very well done and very useful information delivered in an excellent manner. The workshop was very inspirational, energizing, bringing lots of ideas, with both substantial and in-depth knowledge together with case studies. Well-balanced composition of participants, which contributed to interesting and focused discussions and exchanges. I would highly recommend it to anyone that is interested in improving their proficiency and core competencies.

    Hassan Murad Agha - Group Head of Compliance & Internal Control - Gulf General Investment Co. (PSC)

  • All companies should promote their boards, executive managers or staffs who have board responsibilities for subsidiary companies to attend corporate governance training. Hawkamah provides the ability for people and companies in the GCC to upskill in the area of corporate governance and directorship through a comprehensive programme teaching international best practice which has been tailored to regional specific governance issues.

    Alastair Mulligan - VP Asset Management - National Central Cooling Company PJSC (TABREED)

  • I am truly honored to attain this certification and I recommend the Compliance Heads of all DFM listed companies to participate and achieve this certification.

    Nabeel Mirza - Senior Director & MLRO - Compliance - GFH Financial Group B.S.C.

  • The workshop has added a level of professionalism to my practice. It addressed and discussed  the right concepts to promote better governance and effective support for business in line with rules and procedures.

    Osama Issaq Al Haj - Head of Legal & Board Secretary - Dubai Islamic Bank

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