Hawkamah and UAB Announce Winners of 2010 Bank Corporate Governance Award
Hawkamah and UAB Announce Winners of 2010 Bank Corporate Governance Award
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Hawkamah, The Institute for Corporate Governance and the Union of Arab Banks (UAB) yesterday announced the winners of the "Hawkamah-UAB 2010 Bank Corporate Governance Award", a regional initiative aiming at recognising and honouring Arab banks that have gone the extra mile in improving their corporate governance practices. The award announcement took place at a gala ceremony held on the first day of the CMA -Hawkamah-OECD 5th Annual conference, in Muscat, Oman. The Gala Dinner was sponsored by the Muscat Securities Market. Three highly governance rated banks were chosen from over 30 accepted applications from 12 MENA countries by an independent panel of expert judges. The winners Al Baraka Banking Group (1st prize), Bank Muscat (2nd prize), and Qatar National Bank (3rd prize). Hawkamah also awarded Bank of Bahrain and Kuwait and National Bank of Oman for their distinguished Corporate Governance practices. This year's regional awards initiative was supported by Thomson Reuters. The judging panel for the Award included eminent international corporate governance experts - Alan McIntyre, Partner of PricewaterhouseCoopers (PwC), Professor Andrew D Chambers, author and worldwide authority on corporate governance; and Chris Pierce,CEO of Global Governance Services Ltd.. The Jury panel judged that the quality of the applications and the corporate governance efforts and improvements made by banks had significantly improved over the past year, increasing the difficulty of choosing the top banks. Some 35 Banks competed for the Award this year from countries including Bahrain, Egypt, Iraq, Jordan, Kuwait, Morocco, Oman, Qatar, Sudan, Syria, Tunisia and the UAE. In announcing the winner, Dr. Nasser Saidi, Executive Director, Hawkamah Institute for Corporate Governance remarked, "Hawkamah is pleased to congratulate and honour our winners for their excellence in corporate governance. Our banks are the basis of financial intermediation in the region and underlie the performance of our economies. . Their success is our success. The banks that have received the awards tonight are obviously convinced that implementing good corporate governance is good for their bottom-line and good risk management, but also that effective banks' governance holds the key to this region's long-runeconomic growth prospects and sustainability" Wissam Fattouh, Acting Secretary General, Union of Arab Banks (UAB), commented, "The high number of applications received this year and the continued success of this award is but another indication of the interest Arab banks have put in improving their governance practices. We are very pleased with the results and thank the jury for their hard work. The UAB remains keen on advocating corporate governance and other international best practices in the benefit of the Arab Banking sector." 78_1 Al Baraka Banking Group 78_4 Bank Muscat 78_5 Qatar National Bank 78_3 Bank of Bahrain and Kuwait 78_2 National Bank of Oman

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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