Hawkamah and UAB announce winners of the Regional 2008 Bank Corporate Governance Award
Hawkamah and UAB announce winners of the Regional 2008 Bank Corporate Governance Award
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Hawkamah – The Institute of Corporate Governance and the Union of Arab Banks (UAB) today announced the winners of the ‘Regional 2008 Bank Corporate Governance Award’ at a gala ceremony held in Dubai.

The winners were National Bank of Oman (1st Prize) and Qatar  National Bank (2nd Prize). Hawkamah and UAB also awarded Burgan Bank and Bank Dhofar for their continued Distinguished Corpoarte Governance Practices. Launched in 2007 by Hawkamah and UAB, the Regional Bank Corporate Governance Award seeks to identify and honour regional banks that show leadership and initiative in enhancing good corporate governance. Sponsored by MasterCard Worldwide, the Award has become a prestigious, competitive and highly-coveted bank award that highlights the industry’s strong commitment to good corporate governance. Dr. Nasser Al Saidi, Executive Director of Hawkamah said: “Sound corporate governance is critical for banks at all times, but underlying the current credit crisis and financial meltdown is a failure of corporate governance at the level of banks and regulators. .We must  learn from these misguided policies and practices so as not to repeat them. Banks that do not constantly improve their corporate governance may not only lose their competitive edge but also find it tough to survive. The evaluations conducted for the Hawkamah-UAB  Bank Corporate Governance Award reveals  that regional banks are increasingly adopting corporate governance frameworks that boost transparency and integrity. We must sustain this momentum so that the region’s banking industry becomes a role model and not a laggard in corporate governance. The call is for our regulators and government authorities to enforce good corporate governance practices.” Dr. Fouad Shaker, Secretary General, Union of Arab Banks (UAB) commented: "The strong participation of banks from across the region in the Regional 2008 Bank Corporate Governance Award shows that the corporate governance movement in the region is steadily growing stronger. A growing number of regional banks believe that corporate governance can add significant value on several fronts. The UAB's involvement in the Award is part of our constant efforts to develop good governance, transparency, efficiency, integrity and accountability in the region's banking sector.” Denzil Lawson, General Manager, Middle East and Levant, MasterCard Worldwide said: "MasterCard is proud to support the Regional 2008 Bank Corporate Governance Award, for the second consecutive year, as part of our ongoing commitment to raising governance standards in the region's banking industry. Based on the realization that good corporate governance makes good business sense, more and more regional banks are putting governance high on their corporate agenda. MasterCard will continue to work with organizations like Hawkamah and UAB to promote transparency and integrity in the banking sector. The initiative is in line with MasterCard’s commitment to accelerate commerce and strengthen the payments landscape in the region”. The winners of the 2008 Regional Bank Corporate Governance Award were decided following a rigorous assessment by a distinguished jury panel comprised of international banking and governance experts including Charles Freeland, a well-respected international banking consultant and former Deputy Secretary General, Basel Committee on Banking; Alan McIntyre, Financial Services Sector Leader for the Middle East Region for PricewaterhouseCoopers; and Chris Pierce, Chairman of Global Governance Services Ltd The criteria for the Award included commitment to good corporate governance; structure and functioning of the Board of Directors (or equivalent Supervisory Board); control environment and processes; transparency and disclosure; and treatment of minority shareholders The 2008 Bank CG Award attracted over 35 applications from banks in 13 countries including UAE, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Oman, Morocco, Palestine, Qatar, Sudan and Tunisia. Participating in the Award gave regional banks an opportunity to be recognised for forward-thinking corporate governance practices. The Award also gave them a chance to benchmark their policies and structures against global best-practices and to obtain feedback from leading international experts. 49_1 National Bank of Oman 49_2 Qatar National Bank 49_3   Bank Dhofar49_4 Burgan Bank

Testimonials

  • 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

  • A very interesting and informative course which has helped me to adapt my Board Secretary knowledge further to my role as Company Secretary.

    Hamad Al Hosani - Group Company Secretary - Emirates NDB Bank

  • Anyone who wants to enter the world of boards and governance; this is your passport.

    Jehad A. Kazim - Director - Legal Services Dubai Chamber

  • The Directors Development Program was one of the most beneficial programs I attend during my career life. The strength of the program comes from the way it was structured as each part covered very important aspects of the required management role.

    Nada Ishaq Abdul Karim - Manager - The Secretary of The Board of Directors - Bahrain Islamic Bank BSC

  • The DDP offered by the Hawkamah Institute is an excellent course to prepare directors to understand and fulfil their obligations properly as members of the board. I have benefitted immensely from this program and have started to implement some of the best practices taught on the boards that I am involved in.

    Amir Arab - Director - Havenvest Private Equity Middle East Limited

  • The Director Development Program is great way to gain insight and improved understanding in areas such as corporate governance and board functionality. I would highly recommend the program as a foundational step before they begin their board experience.

    Bindu Ann Joseph - Chief Operating Officer - 3W Networks

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