Dubai Financial Market instils good corporate governance through partnership with Hawkamah
Dubai Financial Market instils good corporate governance through partnership with Hawkamah
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Dubai, UAE. In line with its focus on enhancing sustainability and promoting Environmental, Social and Governance best practices among listed companies and other stakeholders, Dubai Financial Market (DFM) has successfully contributed to the improvement of corporate governance practices in the United Arab Emirates through its partnership with the Hawkamah Institute for Corporate Governance. In 2017, DFM and Hawkamah signed an agreement to collaborate towards corporate sector reform in Dubai and the UAE through improving governance practices of listed companies. Hawkamah has since then trained over 100 Company Secretaries, and briefed the boards of more than 65% of DFM-listed companies on the role of boards in driving good corporate governance.

 H.E. Essa Kazim, Chairman of the Dubai Financial Market, said, “Sustainability and good governance are central to our vision. The DFM continues to adopt best practices to ensure that good governance is instilled in our listed companies and within the DFM itself. Our cooperation with Hawkamah has proven successful in terms of improving corporate governance practices at DFM-listed companies.

Corporate governance is an important source of competitiveness, while sustainability ensures positive contributions to societies at large. When it comes to sustainability and governance, it is the tone at the top that makes all the difference. Boards of directors are therefore at the heart of governance. Company Secretaries play a vital role in ensuring that Boards operate efficiently and effectively, you cannot have a good board with poor-performing company secretary. There is enough evidence to prove that it is challenging to find qualified board members and Company Secretaries in the region. Therefore, Hawkamah took on the assignment of training company secretaries and offering Director Development Programs to prepare new directors for companies as well as organizing special sessions for existing board members.

H.E. Dr Ahmad El Sheikh, Chairman of the Hawkamah Institute for Corporate Governance, affirmed, “With the cooperation of DFM, we have made significant strides in terms of advancing the standards of good governance in the UAE, we have trained more boards and graduated more qualified company secretaries. Since its establishment, the Institute has trained more than 1,800 directors and over 200 Company Secretaries. We look forward to continued collaboration to promote corporate and government sectors’ reform.”

In addition to briefing boards about good corporate governance practices as one of the Institute’s advisory services, Hawkamah launched a Foundation Program for Chartered Governance Professionals with ICSA: The Governance Institute of the UK. The program helps companies prepare the second generation of governance experts and professional company secretaries.

 

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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