Hawkamah signs MoU with Egyptian Banking Institute
Hawkamah signs MoU with Egyptian Banking Institute
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A stepping stone towards integrating governance standards in the region Hawkamah, the Institute for Corporate Governance, a subsidiary of the Dubai International Financial Centre Authority signed a memorandum of understanding (MoU) with the Egyptian Banking Institute, an independent entity founded by the Central Bank of Egypt and a national non-profit organisation dedicated to the advancement of the Egyptian banking sector, with an extensive network of 46 member banks. Dr Omar Bin Sulaiman, Director General of Dubai International Financial Centre Authority, commented: “The signing of the MoU is a very significant development for Hawkamah. One of the key objectives of the DIFC is regional economic development and diversification. This can be achieved only by improving the performance and health of our corporations which is dependant on sound governance practices. This MoU is a stepping stone towards achieving our goal of integrating governance standards in the region within globally agreed frameworks.” The MoU outlines areas of co-operation between Hawkamah and the Institute in promoting corporate sector and corporate governance reforms. The objectives of MoU are:

  • To improve corporate governance practices of public and private sector entities in Egypt, with a focus on the banking and financial sector.
  • Help develop modern regulatory frameworks with respect to bank and financial corporate governance, keeping in line with international best practices.
  • Help develop national legal and regulatory framework for best financial reporting standards in the banking and corporate sector.
  • Promote the creation of Companies Houses in Egypt and the MENA region with the aim of improving market integrity, transparency, efficiency and reporting in accordance with best international practices and standards.

Dr. Hala El Said, Executive Director, Egyptian Banking Institute commented “Corporate governance is not merely about enacting legislation. It is about establishing a climate of trust and confidence. Strengthening corporate governance is fundamentally a process in which the government, the private sector and the public have to join hands.”  Dr Nasser Saidi, Director of Hawkamah, the Institute for Corporate Governance, commented: “Hawkamah was launched earlier this year to promote corporate sector reform and good governance and assist the countries and companies of the region in developing and implementing sustainable Corporate Governance strategies. Hawkamah is about institution building. The aim is to facilitate economic and financial integration of the region with the rest of the world. We share a common interest here with the Egyptian Banking Institute in promoting good corporate governance principles and practice in the banking and financial sector. This is a first step towards developing a sound and globally well integrated corporate governance frameworks and practices for the banking and financial sector, companies and organisations in the MENA region.”


  • 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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