Central Bank Leadership Debates Emerging Issues in Governance, Oversight, and Controls
Central Bank Leadership Debates Emerging Issues in Governance, Oversight, and Controls
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March 12, 2018

Dubai, UAE - Hawkamah -the Institute for Corporate Governance, and the International Monetary Fund (IMF) brought together over 100 central bank officials and their audit partners from 60 countries in the Middle East, Africa, Central Asia, South Pacific, Europe, and North America to share experiences and address pressing governance issues affecting central banks at the two and a half day Central Bank Governance Forum held in Dubai.

The fourth Central Bank Governance Forum, jointly organised by Hawkamah and the IMF, focused on board management and oversight, enterprise-wide risk management, and the changing role of the legal departments and internal auditing. Speakers and panelists highlighted the differences in approaches of central banks all over the world, and shared their insights on fintech, the expanding risk landscape, and the International Financial Reporting Standards requirements (IFRS 9). 

Previous forums have covered a wide range of timely issues and topics impacting central bank officials such as risk management, external audit oversight, assurance mechanisms, and checks and balances.

Simon Bradbury, Chief Accountant of the IMF said: The Forum provided an excellent opportunity for the participants to exchange knowledge and experiences on governance arrangements, and the increasing expectations on risk management and internal audit practices. The active engagement and enthusiasm of the group highlighted how these are really pressing issues for central bank leadership in today’s evolving environment.

H.E. Hamad Buamim, Chairman of the Board at Hawkamah and board member of Dubai International Financial Centre Authority said: “The financial sector continues to evolve rapidly, and central banks have realised that they need to adapt quickly, rethink their approach to governance and form new strategies that ensure financial stability and effectively manage new risks.  Organisations need to remain vigilant in light of technological transformation and business model disruptions that characterise today’s competitive and fast-changing business environment.”  

H.E. Buamim stressed the importance of organising events like the Central Bank Governance Forum, as they provide a powerful platform for central bank officials and key decision makers to collaborate and develop effective solutions to new challenges. He added that Dubai was an ideal place to host the forum, adding that the event strengthened Dubai’s profile as a leading financial hub for the Middle East and North Africa region.

Testimonials

  • "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

  • "A journey full of knowledge, experience and professionalism . I have learned a lot and definitely enjoyed the time I spent with my colleagues."

    Ibtihal Al-Shamali- Director of Corporate Governance- Capital Market Authority of Kuwait

  • The breakfast meetings organised by Hawkamah provide attendees with a great opportunity to meet with peers from leading organisations and exchange ideas on current issues and challenges. A strong panel of industry experts discussing the challenges from different perspectives on ‘How to get the board more engaged’ was most insightful and engaging with enthusiastic audience participation especially in matters regarding diversity and quality of information that is  presented to the board for effective decision making. I look forward to more such events that are organised by Hawkamah

    Sunil Edwards- Group Head of Internal Audit  - Bank of Sharjah

  • The power breakfast on board engagement organized by Hawkamah in collaboration with Diligent was a successful event, very insightful and informative and well organized

    Mostafa Ibrahim Abdeltawab - Tax Agent & Consultant  - Skylines Tax Consultancy

  • There is absolutely no doubt that Hawkamah – as always – has done unmatchable effort in producing its most recent valuable report in association with Diligent about Board Best Practices in the MENA. The discussions that took place in the “Power Breakfast” was so important and insightful; the influx of questions by the quality participants and the valuable answers of the quality panelists is a clear proof of Hawkamah continued success in such events. 

    Yasser Al Dabach – Board Secretary – Ghobash Trading & Investment Group

  • The technical knowledge, insights, case studies and learning provided by the ‘Director Development Program’ are very useful and effective in framing the strategic planning, implementation and delivery phases of growth plans in the difficult economic and geo-political times that we are operating in.

    Hisham Dimashki – CEO - BAP LLC – (associated with GM Trading Companies - Washington DC)

  • 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

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