Hawkamah and the Institute of Internal Auditors UAE Chapter sign Corporate Governance Partnership
Hawkamah and the Institute of Internal Auditors UAE Chapter sign Corporate Governance Partnership
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Hawkamah Institute for Corporate Governance (Hawkamah), a subsidiary of the Dubai International Financial Centre Authority, announced today that it signed a Memorandum of Understanding (MoU) with the Institute of Internal Auditors (IIA) UAE Chapter to actively promote and improve corporate governance practices in the MENA region.  The MoU creates a partnership in which the IIA’s experience in advancing corporate governance in businesses can be shared as best practice throughout the region by Hawkamah. The Institute of Internal Auditors Inc. (IIA) is a global professional body with over 130,000 members. The IIA is represented worldwide through 96 affiliates and has 153 chapters that service IIA members in more than 160 countries. Throughout the world, the IIA is recognized as the internal audit profession's leader in certification, education, research, and technological guidance.  It is a medium for the exchange of ideas and information about Internal Auditors all over the world. The Institute is the recognized authority, principal educator, and acknowledged leader in certification, research and technological guidance for the profession world-wide. The common goal of Hawkamah and the IIA is primarily to improve the levels of corporate governance in the MENA region. This goal is supported by three broad objectives, namely to:

  • Improve the corporate governance practices of private and public sector entities, including listed companies, banks and financial institutions, family-owned enterprises (SOEs), small and medium enterprises (SMEs) and state-owned enterprises (SOEs);
  • Help develop national legal and regulatory frameworks with respect to corporate governance, in cooperation with both the public and private sectors, in support of open and transparent markets; and
  • Co-operate on corporate governance institution-building, to develop a communication strategy and increase the training capacity of institutions, helping them to train investors, directors, managers and other stakeholders on good corporate governance.

Dr. Nasser Saidi, Executive Director of Hawkamah, said: “Our strategic partnership with the IIA is crucial to getting to the heart of businesses within the region and addressing governance issues in specific corporate functions. The internal auditors are key stakeholders and beneficiaries as well as being a promoter of better corporate governance in organizations.  The IIA’s intentions of educating the business community about the importance of a robust corporate governance framework complement Hawkamah’s objectives to promote core values of transparency, accountability, fairness, disclosure and responsibility, enabling the region to develop sound financial markets and encourage strong economic growth.” Abdulrahman Al Hareb, President of the IIA UAE Chapter commented: “The partnerships that Hawkamah is forming with key organisations are crucial to implementing a sound corporate governance framework.  Teaming up with the IIA is a very important alliance.  It is an established trade body with recognised authority with experience.  The IIA’s motto is ‘Progress through Sharing’ and today’s announcement could not be a better example of this.  There are a number of benefits for MENA businesses that embrace corporate governance, but perhaps the most important is that it will improve their access to affordable credit and capital, increase their decision-making capacity and operational efficiency and enhance their reputation.” Hawkamah is an autonomous, regional entity whose mission is to assist countries and companies of the wider MENA region in developing sound and globally well-integrated corporate governance frameworks and practices. 

Testimonials

  • ‘’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

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

    Fida Kanaan – Director – Executive education  OSB AUB

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