Islamic Financial Institutions
Islamic Financial Institutions
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Task Force on Corporate Governance in IFIS

As part of its regional work to advance corporate governance, Hawkamah with the support of a number of Islamic Financial Institutions, set up a Task Force on Corporate Governance of Islamic banks and financial institutions (IFIS) following to its meeting in Doha, Qatar in November 2008. The chief objectives of the Task Force were to develop a Policy Brief on Corporate Governance of IFIS, identifying corporate governance challenges and priorities for standardization faced by the IFIS and proposing concrete recommendations for implementation. With a view of promoting greater understanding on the corporate governance practices and thereby enabled IFIs to better safeguard the interest of their stakeholders, the scope of the Task Force was to include documenting the corporate governance practices prevalent in the IFIS across the Middle East and North Africa region and conducting workshops, seminars and conferences on governance issues and challenges faced by the Islamic finance industry. The Task Force developed the Policy Brief on Corporate Governance of IFIS that was drafted on a consensus-based document, resulting from fact-finding questionnaire, meeting and electronic consultations. The brief was addressed to policy-makers, Islamic banking regulators, supervisors and Islamic banks for possible adaptation.

Following this public consultation process, the Policy Brief was formally introduced at a press conference held in June 2011. The Policy Brief was circulated to policy makers, regulators, regional media, Islamic banking community and other international and regional stakeholders for adoption and implementation.

Policy Brief on Corporate Governance for Islamic Banks and Financial Institutions in the Middle East and North Africa Region English

Testimonials

  • "The DDP provides a solid foundation of corporate governance for existing and aspiring directors."

    David Haglund - Senior Executive Director and Portfolio Manager of the Templeton Frontier and MENA Market strategies

  • “Thank you so much for sharing such insightful webinar. It was great and valuable to all participate”

    Shady Rashed - Senior Economic Researcher at The Ministry of International Cooperation of Egypt

  • “Good session and very well organized on the webinar about How to buffer and lessen the impact of the novel Covid – 19, to maintain business sustainability with Hawkamah - AUB / Makhzoumi” 

    Bilal Hamade - Executive Advisor

  • "One of the best webinars I attended. Well done OSB Makhzoumi and Hawkamah”

    Fida Kanaan – Director – Executive education  OSB AUB

  • "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

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