The imperative to improve corporate governance in the Middle East and North Africa to be discussed at the Hawkamah and OECD 4th annual gathering
The imperative to improve corporate governance in the Middle East and North Africa to be discussed at the Hawkamah and OECD 4th annual gathering
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Regional and international experts on corporate governance will gather on 9-10 November in Dubai to review the progress in reforming corporate governance frameworks in MENA countries and ways to enhance their implementation. This regional annual gathering, organised by the Hawkamah Institute of Corporate Governance in cooperation with the Organisation for Economic Co-operation and Development (OECD)  will be held at the Dubai International Financial Center. As the causes and consequences of the global financial crisis are becoming clearer, this will be the first regional gathering to consider the role of corporate governance for the economic stability and prosperity of the region. H.E. Dr. Omar bin Sulaiman, Governor of the DIFC and Founder of Hawkamah, pointed out that “the world - and especially the Middle East – is emerging from the global financial crisis and will seek to implement policies to ensure a period of sustained and more stable growth. Now is the time for companies to prepare and position themselves for the future opportunities and challenges. Good corporate governance offers them a competitive edge.” Dr. Nasser Al Saidi, the Executive Director of Hawkamah, further explained: “We have specifically chosen the theme of the this meeting as ‘Emerging Middle East Markets and the Corporate Governance Imperative’ so as to impart a sense of urgency regarding adoption and implementation of corporate governance in the region.” The engagement and investment of both regulators and private sector companies in corporate governance priorities is essential. “Hawkamah and its supporting partners and founding members, the DIFC, OECD, IFC, UAB and others have been at the forefront to promote and spread awareness about good corporate governance practices in our region and encourage reform. The upcoming gathering is yet another step in that direction,” added Dr. Saidi. The panels of the conference have been specifically targeted to reflect the issues seen as priority in improving governance practices in the region.  "This important regional gathering will be addressing a number of priority corporate governance challenges in the MENA region in relation to the banking sector and state-owned enterprises", noted Dr. Grant Kirkpatrick, Senior Economist at the OECD. "A Policy Brief on Corporate Governance of Banks will be released on this occasion. Apart from reflecting a considerable amount of fact finding, it constitutes a first step to applying policy lessons from the financial crisis to the region", noted Mr. Kirkpatrick. Among other topics addressed by the conference will be corporate governance of Islamic financial institutions, insurance firms and the role of private equity firms in corporate governance. These issues will be discussed on the second day of the annual gathering. In addition, the regional regulators will debate the region’s changing regulatory landscape and how that places new demands on them. An Investors Panel will address the role of investors, both retail and institutional, as key drivers of corporate governance reform in the region. Finally, the annual gathering will also feature a closed session for regulators, which will focus on region-specific insolvency and creditor rights issues. A regional study on insolvency will be also released on this occasion. The MENA-OECD Working Group on Corporate Governance will be discussing how to advance the corporate governance agenda in MENA region through ongoing as well as new regional and country-specific initiatives. Mechanisms for implementing the regional Policy Brief on banks will be discussed, and the way forward for advancing the corporate governance agenda for state-owned enterprises will be decided. Speakers representing international and regional organisations, as well as the private sector, joining the annual gathering include: Mr. Mahesh Uttamchandani, Head of the World Bank Insolvency and Creditor’s Rights Initiative; Dr. Grant Kirkpatrick, Senior Economist at the OECD, Mr. Carl Rosen, Executive Director of International Corporate Governance Network, Mr. Simon Copplestone, Abu Dhabi Commercial Bank’s Board Secretary, and Ms. Sohail Zubairi, CEO of Islamic legal consultancy, Dar Al Sharia. A number of other experts from across the region will comprise the 200 participants anticipated to attend this important annual meeting. 62_1 HE Dr. Omar Bin Sulaiman, Governor of the DIFC 62_2 Dr Nasser Saidi, Chief Economist, DIFC Authority 62_3 Grant Kirkpatrick, Senior Economist, OECD

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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