Policy on SOEs
Policy on SOEs
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Given the important role of state ownership in MENA countries, there is a need for a clear policy for enterprise reform relying on improved corporate governance of state-owned enterprises. Such policy is important for enterprises to be privatised as well as for those remaining under total or partial state ownership. By improving the process of decision making and control by the state, good governance can improve SOEs performance and competitiveness, and level the playing field between state-owned and private enterprises. In many instances, better performing SOEs can have positive fiscal implications, insofar as government budgets are all too often called to the rescue of large SOEs.

Good governance provides better transparency in corporate structures and operation and reduces the opportunities for political interference in the interactions amongst government, management and stakeholders. Thus, good governance of SOEs is conducive to better public sector governance in general, and to reducing corruption.

As one of the Task Forces endorsed by the Dubai Declaration issued in November 2006, the Task Force on Corporate Governance of State Owned Enterprises constituted developed a questionnaire on the basis of the OECD approved Guidelines on Corporate Governance of State-owned Enterprises which was circulated to 12 MENA jurisdictions (Ministries and regulatory agencies from Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Pakistan, Qatar, UAE, Yemen) to study the Corporate Governance Frameworks of MENA SOEs. The Task Force discussed its findings in meetings and electronic consultations.

Read More About the Task Force's Scope of Work

Policy brief

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

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

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

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

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    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.

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  • 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.

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  • 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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