Arab banks continue their journey towards corporate governance excellence
Arab banks continue their journey towards corporate governance excellence
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Hawkamah launches the 7th Bank Corporate Governance Award as a regional initiative for all banking sectors in the Middle East and North Africa region, and welcome the submissions of Arab banks to the award till the 10th of May, 2013. The award launched in 2007 by the Institute for Corporate Governance "Hawkamah". Showcases Banks that have taken the extra steps necessary in improving their Corporate Governance practices, beyond the legal and regulatory requirements. Leonardo Peklar, the Chief Executive Officer of Hawkamah commented "As a recognition tool, the Bank Corporate Governance Award has been a growing success over the past 6 years, and Arab banks have embraced the importance of governance as a pillar in strengthening the economy and corporate performance. Year on year, we have seen the growing interest of participation from regional Arab banks in the awards." All participants must meet specific criteria in order to participate in the award, which are commitment to good Corporate Governance, structure and functioning of the Board of Directors, Control environment and processes, disclosure and transparency, shareholders and stakeholders rights. The process of choosing the winners starts with review of all the applications by a prominent independent jury panel of international corporate governance banking experts, shortlist the top five acquiescent banks, conduct one-on-one interviews with the finalists, and announce the winner at the Banker Middle East Industry Awards in the first week of June 2013. The 2013 Bank Corporate Governance Award international jury is comprised of: Mr. Charles Freeland, Retired Deputy Secretary General of the Basel Committee on Banking Supervision at the Bank for International Settlements in Basel, Switzerland. Prof. Andrew D. Chambers, the Specialist Advisor to the House of Lords’ Economic Affairs Select Committee’s Inquiry into Auditors. He has been a member of the UK FRC’s Auditing Practices Board (2006-9) and is Deputy Chair of Fédération des Experts Comptables Européen’s (FEE’s) Corporate Governance and Company Law standing Working Party (Brussels). Dr. Grant Kirkpatrick, Former Deputy Head of the Corporate Affairs Division of the Organisation for Economic Co-operation and Development (OECD) Directorate for Financial and Enterprise Affairs and Dr. Rainer Geiger, Professor of International Economic Law, and Ex -Senior Regional Advisor, Organisation for Economic Co-operation and Development (OECD). Dr. Grant Kirkpatrick said "The previous Hawkamah Corporate Governance Awards have shown that some banks in the region have good corporate governance systems but that others are lagging." Mr. Charles Freeland stressed the importance of the awards for the region by saying "These awards provide exactly the right incentives to improve banks’ due process and to promote robust checks and balances in the management of increasingly complex risks." Dr. Rainer Geiger added "The awards provide an opportunity for banks in the region to demonstrate their efforts in the search for excellence." In addition to the award process, all participants will receive a high level Corporate Governance Report benchmarking them against the industry average. Leonardo reiterated, "Winners are defining current best practices in the region and this will act as a catalyst for the entire sector to elevate their governance practices." He concluded by saying "Hawkamah stands ready to work with organizations in strengthening their corporate governance practices." For more info please visit www.hawkamah-awards.org

Testimonials

  • ‘’There was no doubt that once we communicate with Hawkamah for a workshop, we were sure that we will achieve our goals and get an added value. And thats what happened; we got a lot of positive feedback from participants which confirms the success of the company secretary 2 days workshop which took place in Manama – Bahrain as well as the fruitful feedback on the knowledgeable and insightful trainers and experts. We would be more than happy to have such cooperations in the future since we consider Hawkamah our patterner in success’’

    Faisal Al-Modlij - GM, Corporate Affairs and Governance - Sipchem KSA

  • "We extend our thanks and appreciation to Hawkamah institute for its cooperation and the effectiveness of the Director Development Program"

    Saeed Al Kaabi - Abu Dhabi Monitoring and Controlling Centre(ADMCC)

  • "The Director Development Program was very rich in useful information and added a lot to us, and the trainers’ experience, skills and capabilities had positive impact on delivering the information to us in a direct and clear manner"

    Hamad Al - Tamimi - Osool Asset Management

  • The corporate Governance in all type of entities adds morality and ensures implementation of the best practices to fulfill the responsibilities of those entities and to ensure the rights of all parties involved, especially those who have no authority to participate in the decision-making cycle.

    Hawkamah institute contributed to enrich the knowledge of these responsibilities and the role of governance for the success of institutional work in accordance with principles that establish values and ethics.

    Ajman Municipality

  • '‘Excellent, well delivered, informative program presented by well-seasoned trainers. The training program has helped transform and empower the Board’s vision and focus our minds on the relevant issues at hand. We sincerely thank you for the training sessions which helped broaden our perspective and decision making processes. We strongly recommend this training to elevate directors to the next level".

    Bank of Maldives

  • "I would like to thank Hawkamah for the ESG Reporting training , I found the two days ESG Reporting training very informative and helpful and I have definitely received some tools that I will use in my work"

    Rania Zaatari - Head of Makassed Communal Healthcare Bureau

  • "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

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