The 2013 Hawkamah Bank Corporate Governance Award was awarded to National Bank of Abu Dhabi (NBAD) during the Banker Middle Eastate's Industry Awards held at the Jumeirah Emirates Tower Hotel on the 19th of June, 2013.
In its sixth year, the Hawkamah Bank Corporate governance Award recognizes corporate governance leadership of regional banks. Hawkamah received applications from banks in 9 countries in the Middle East and North Africa, reinforcing the notion that implementing good corporate governance practices is on top of the region's banks' agenda.
H.E. Hamad Buamim, Chairman of Hawkamah, stated during his speech, "The Bank Award recognizes and rewards corporate governance in action, it assesses how individual banks have adopted and applied best practice within their organizations. And as such, the Bank Award has played a key role in encouraging banks to adopt better practices. Through the power of recognition, the Awards have acted as a catalyst for further governance reform in the MENA. And over the years, we have seen year-on-year improvements in the banking sector in the region."
The jury agrees that the five shortlisted banks exhibited significantly higher levels of corporate governance awareness than in previous years. The criteria on which the jury based its decision included not only the responses to an extensive questionnaire and in-depth interviews with senior staff but the high quality of the winner's Annual Report was also a key factor.
This year's international jury panel comprised: 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: market concentration and their role. Andrew has been a member of the UK FRC's Auditing Practices Board (2006-9). He is Deputy Chair of Fedration des Experts Comptables European's (FEE's) Corporate Governance and Company Law standing Working Party (Brussels). Dr. Grant Kirkpatrick, 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).
H.E. Hamad Buamim also added, "I would like to thank all of the jury members for their dedication, for providing their invaluable expertise and unbiased perspectives in judging the applications."