Good governance key to regional growth and economic prosperity
Good governance key to regional growth and economic prosperity
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The DIFC today hosted an audience of bank CEOs, senior bank managers, members of the Abu Dhabi Chambers of Commerce, business consultants and lawyers, who met to discuss good corporate governance with Hawkamah, the Institute for Corporate Governance, a subsidiary of the DIFC . The audience was told that companies operating under effective governance regimes perform better, are valued more highly in the market, have a lower cost of capital and a lower risk profile than those that do not. The event was held to promote and highlight the ongoing efforts of Hawkamah in promoting good corporate governance within the region and the DIFC, and was held at the Gate building in Dubai. Good corporate governance can help to mitigate against excessive volatility in capital markets, such as has been witnessed in the region recently: From the end of 2005 to April 2006, Gulf investors saw the value of their holdings fall by over $200 billion. Dr Nasser Saidi, Executive Director of Hawkamah, commented: “In order to achieve sustainable growth of the regional markets and financial sector the implementation of good corporate governance is an essential element. Various regulators are developing and some have implemented corporate governance frameworks for companies.  We, at Hawkamah, the Institute for Corporate Governance, aim to assist the countries and companies of the region to develop and implement globally sound and well-integrated corporate governance frameworks.” Hawkamah is the first organisation of its kind in the Middle East. It provides technical assistance, monitoring, analysis, research and consultation for regional institutions. Hawkamah also helps to promote awareness of corporate governance by working with regional taskforces, promoting policy dialogue and acting as an intermediary for corporates seeking to bring their governance in-line with international standards. Hawkamah has identified a number of priorities in the UAE and the GCC region. Corporate governance standards in the region’s domestic capital markets need to improve to ensure continued growth and to attract investors. The financial sector will play a key role in raising these standards. Likewise, improved legal frameworks are required to ensure the transparency of listed companies and to protect shareholder and creditor funds. Further investment is also required in domestic institutions such as the UAE National Corporate Governance Taskforce. Hawkamah – The Institute for Corporate Governance was set up earlier this year by a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), International Finance Corporation (IFC), Centre for International Private Enterprise (CIPE), Young Arab Leaders (YAL), Dubai School of Government (DSG), Institute of Management Development (IMD), UAE Ministry of Finance and Industry, and the Union of Arab Banks (UAB).  It is an autonomous association covering the Middle East, North Africa and Central Asia.


  • I want to thank  Hawkamah team for the rich and useful Board Secretaries workshop. The speakers were amazing and very experienced

    Sandra Corm - Group Company Secretary - Mohamed & Obaid Almulla

  • ‘’There was no doubt that once we communicate with Hawkamah for a workshop, we were sure that we will achieve our goals and get an added value. And thats what happened; we got a lot of positive feedback from participants which confirms the success of the company secretary 2 days workshop which took place in Manama – Bahrain as well as the fruitful feedback on the knowledgeable and insightful trainers and experts. We would be more than happy to have such cooperations in the future since we consider Hawkamah our patterner in success’’

    Faisal Al-Modlij - GM, Corporate Affairs and Governance - Sipchem KSA

  • "We extend our thanks and appreciation to Hawkamah institute for its cooperation and the effectiveness of the Director Development Program"

    Saeed Al Kaabi - Abu Dhabi Monitoring and Controlling Centre(ADMCC)

  • "The Director Development Program was very rich in useful information and added a lot to us, and the trainers’ experience, skills and capabilities had positive impact on delivering the information to us in a direct and clear manner"

    Hamad Al - Tamimi - Osool Asset Management

  • The corporate Governance in all type of entities adds morality and ensures implementation of the best practices to fulfill the responsibilities of those entities and to ensure the rights of all parties involved, especially those who have no authority to participate in the decision-making cycle.

    Hawkamah institute contributed to enrich the knowledge of these responsibilities and the role of governance for the success of institutional work in accordance with principles that establish values and ethics.

    Ajman Municipality

  • '‘Excellent, well delivered, informative program presented by well-seasoned trainers. The training program has helped transform and empower the Board’s vision and focus our minds on the relevant issues at hand. We sincerely thank you for the training sessions which helped broaden our perspective and decision making processes. We strongly recommend this training to elevate directors to the next level".

    Bank of Maldives

  • "I would like to thank Hawkamah for the ESG Reporting training , I found the two days ESG Reporting training very informative and helpful and I have definitely received some tools that I will use in my work"

    Rania Zaatari - Head of Makassed Communal Healthcare Bureau

  • "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

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