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

  • 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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