Dubai, November xx, 2014: Hawkamah, the Institute for Corporate Governance, and Mudara, the director development institute, in cooperation with the Organization for Economic Cooperation and Development, the OECD, hosted the 8th Annual Conference of Hawkamah at the DIFC Conference Center on 11th November 2014. H.E Essa Kazim, Governor of DIFC, addressed the audience in the opening ceremony highlighting Dubai’s leading position amongst the world’s emerging financial centers and the emergence of DIFC as a prominent global financial hub. H.E. Hamad Buamim, Chairman of Hawkamah, welcomed participants stressing the importance of governance to reach economic and social goals and its impact on financial performance.
The first session of the conference discussed the role of corporate governance in creating value for shareholders, what investors expect from the board of directors and the leverage the board has in supporting investors’ trust in the company.
Sheikh Hussein Al Banawi, Board Member of Hawkamah, underlined the significance of implementing Corporate Governance in Family Businesses, highlighting the many challenges that family businesses face with generational transition. Themes discussed at panel discussions included listing of family businesses, the creation of a family board, the development of a company board, and family business governance.
The session on compliance discussed the importance of the regulator’s role in ensuring corporate governance codes are followed to protect the company and invested funds. The session also discussed the relevance of corporate governance when pursuing investment opportunities.
Dr.Ashraf Gamal, CEO of Hawkamah, mentioned the various services Hawkamah offers in the region, including workshops and training programs for board members and senior officials. Dr.Ashraf also highlighted Hawkamah’s role in evaluating boards.