Hawkamah Institute for Corporate Governance briefed the Boards of Bank of Sharjah and its subsidiary, Emirates Lebanon Bank on global and regional corporate governance developments last week. The half-day event, designed specifically for Bank of Sharjah Group, focused on corporate governance regulatory developments; emerging trends and discussions on board effectiveness as well as risk oversight to further enhance the Groupâ€™s corporate governance development.
Bank of Sharjah has always been committed to achieving a high level of governance. Ethical and responsible business practice has been embedded in the Bankâ€™s culture since its inception in 1973. Part of the mission of Bank of Sharjah is to achieve strong and sustainable performance for its shareholders and so organizing a Director Development Programme for all Board members across the Group ensures Directors are clear on how to achieve this through a greater understanding of corporate governance.
Sheikh Mohammed Bin Saud Al Qasimi, Vice-Chairman of Bank of Sharjah and Bank of Sharjah representative on the Emirates Lebanon Bank Board recognized the value of such a session:
â€œBoth Bank of Sharjah and Emirates Lebanon Bank have a strong focus on Corporate Governance at Board level, we have Board Corporate Governance Committees dedicated to the development and oversight of this fundamental area. Our governance practices have always been tight and our Boards effective, however, it is vital that we, as Directors, stay informed of the latest developments and ensure that we continue to develop corporate governance in line with best practice. Therefore, organizing this session and dedicating time to it was important to the Boards of both Bank of Sharjah and Emirates Lebanon Bankâ€
â€œWe applaud the board of Bank of Sharjah for their commitment to stay abreast of corporate governance developments through this board briefing. Hawkamahâ€™s recent engagements are highlighting a growing demand from corporate boards in the region to learn more about recent corporate governance thinking and what these boards can do to steer their companies in the right direction, â€ said Nick Nadal, Director of Hawkamah Institute for Corporate Governance.
Hawkamah and its sister-institute Mudara Institute of Directors work with bank and corporate boards to bridge the corporate governance gap in the region through director development programmes, corporate and board assessments, recognition programmes, and engagement in policy task forces.