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Issue -4-

BOARDS OF STATE OWNED ENTERPRISES

ARTICLE BY DR. ASHRAF GAMAL EL DIN CHIEF EXECUTIVE OFFICER HAWKAMAH INSTITUTE FOR CORPORATE GOVERNANCE

Boards are chosen by shareholders so that they supervise companies and make sure that strategic objectives of company owners are met. They also have to make sure of the integrity of information coming out of the company and that the company is paying enou

EVOLV ING THE ROLE OF THE COMPANY DIRECTOR

ARTICLE BY AMRA BALIC

The role of board director is a key position from the shareholder’s perspective. Shareholders rely on directors to represent their interests and the right to nominate directors is a crucial element in the protection of shareholders’ interests.

GETTING THE COMPOSITION OF THE BOARD RIGHT

ARTICLE BY DR. GRANT KIRKPATRICK

The debate over independent directors to manage conflicts of interests on a board and to ensure board objectivity has raised a number of questions about the role of major shareholders.

Interview with Sir Michael Rake

SIR MICHAEL RAKE

Quite obviously a large public company like BT with one million shareholders is totally different from a family owned company. In BT, the whole question of investor communications is a big challenge. It means spending time with your major shareholders, an

NOMINEE DIRECTOR FRAMEWORK

ARTICLE BY SHARON DITCHBURN

Conflicts of interest faced by Nominee Directors continues to be a topic of much discussion in many Boards.

THE IMPORTANCE OF DIRECTOR DEVELOPMENT IN GROUP COMPANIES

ARTICLE BY MUBADALA

Mubadala has grown at a rigorous pace over the past decade, with interests now spanning the globe, across a number of key sectors. As Mubadala continues to grow, so does the need for effective governance across the portfolio, which consists of over one hu

THE “NEW NORMAL” IN BANK GOVERNANCE

ARTICLE BY STILPON NESTOR

The 2007-8 international banking crisis uncovered long-simmering weaknesses in the structure, strategy and governance of global banks.

WHAT THE MARKET EXPECTS OF CONTROLLING SHAREHOLDERS

ARTICLE BY PETER MONTAGNON

Whatever the excitement around a big new flotation, the original shareholders cannot escape the fact that the basic situation has changed. By tapping into other people’s money, they have created a new set of obligations. If they do not honour these, at so

Independent” Nominee Directors in International Groups

ARTICLE BY FRANK E. DANGEARD

Most international groups have subsidiaries or affiliates with local partners or shareholders. This may be as a consequence of regulations prohibiting majority ownership by a foreign company, or because the local business was bought from local entrepreneu

Testimonials

“The topic discussed was forward-looking, enlightening and practical. The well-balanced panel considered the next area of governance reform from a broad perspective, with the session covering useful and thought-provoking concepts.”

Nalika Manjrekar -VP - Group Corporate Governance at First Abu Dhabi Bank
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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