Abu Dhabi Commercial Bank Partners with Hawkamah to Advance Corporate Governance Reform in the region
Abu Dhabi Commercial Bank Partners with Hawkamah to Advance Corporate Governance Reform in the region
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ADCB to Support Hawkamah's Programmes Aimed at Advancing Sustainable Corporate Governance in the MENA Region The Abu Dhabi Commercial Bank (ADCB) has signed a partnership agreement with the Hawkamah Institute of Corporate Governance (Hawkamah), to promote corporate governance reform in the Middle East and North Africa (MENA) region. As part of the agreement, ADCB will become a "Corporate Partner" of Hawkamah and contribute key resources necessary to supporting Hawkamah';s mandate in strengthening corporate governance in the banking sector in the MENA region and ensuring the implementation of sound and robust corporate governance principles in the sector with the aim of building safer and sounder financial institutions. Dr Nasser Saidi, Executive Director and Board Member of Hawkamah, said: "We are very pleased to welcome ADCB, one of the region's leading banking institutions, as our Corporate Partner. ADCB joins a growing number of international and regional organisations that are supporting stronger corporate governance standards and practices. The participation of leading banking institutions is critical for accelerating the momentum of corporate governance development in the UAE and the region. ADCB's contribution will strengthen our efforts to support the corporate sector in the UAE and regional institutions in implementing sound and sustainable corporate governance frameworks and practices that are both locally relevant and integrated with international norms."   Mr. Salem Al Ameri, Board Member and Chairman of the ADCB Corporate Governance Committee, said: "Our institution recognises the importance of good corporate governance in enhancing market stability, protecting shareholders and creating additional shareholder value. We believe in the importance of good corporate governance in ensuring sustainable economic growth and we support Hawkamah's initiative to improve corporate governance practices in the region. This partnership with Hawkamah is a clear testament of ADCB's commitment to corporate governance." "We believe that good corporate governance provides a strong foundation for our organisation's future development. Good governance also promotes the trust of depositors and shareholders and enables us to make greater contributions to the development of Abu Dhabi's financial system," added the ADCB CEO. The bank has adopted four guiding principles for its corporate governance policies:
  • Responsibility - the clear division and delegation of authority.
  • Accountability in the relationships between the bank's management and the board, and between the board and shareholders as well as other stakeholders.
  • Transparency and Disclosure to enable stakeholders to assess the bank's financial performance.
  • Fairness in the treatment of all stakeholders.
ADCB has been actively implementing good corporate governance practices since 2007. The partnership with Hawkamah this year is another significant initiative that underlines the bank's commitment to international best practices and good governance. The Abu Dhabi Commercial Bank joins a growing number of reputable institutions showing their support for an independent, private sector initiative that is improving the understanding and practice of corporate governance in the MENA region. Since its inception in 2006, Hawkamah has signed partnership agreements with major international and regional organizations including GE, PricewaterhouseCoopers, MasterCard Worldwide, Korn/Ferry International, Dubai Islamic Bank, Bank of Sharjah, Emirates NBD and Abraaj Capital.  The resources contributed by Hawkamah's partners support Hawkamah's key programmes for Banks and Financial Institutions, Insurance, Family Owned Companies, State Owned Enterprises, Shari'a Compliant Institutions, Private Equity, Media and Academia. 60
Order of appearance in the picture from left to right is:
  • Dr. Nasser Saidi, Executive Director and Board Member of Hawkamah
  • Mr. Salem M Al Ameri, Board Member and Chairman of the ADCB Corporate Governance Committee

Testimonials

  • "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

  • "A journey full of knowledge, experience and professionalism . I have learned a lot and definitely enjoyed the time I spent with my colleagues."

    Ibtihal Al-Shamali- Director of Corporate Governance- Capital Market Authority of Kuwait

  • 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

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