Islamic Financial Institutions

Task Force on Corporate Governance in IFIS

As part of its regional work to advance corporate governance, Hawkamah with the support of a number of Islamic Financial Institutions, set up a Task Force on Corporate Governance of Islamic banks and financial institutions (IFIS) following to its meeting in Doha, Qatar in November 2008. The chief objectives of the Task Force were to develop a Policy Brief on Corporate Governance of IFIS, identifying corporate governance challenges and priorities for standardization faced by the IFIS and proposing concrete recommendations for implementation. With a view of promoting greater understanding on the corporate governance practices and thereby enabled IFIs to better safeguard the interest of their stakeholders, the scope of the Task Force was to include documenting the corporate governance practices prevalent in the IFIS across the Middle East and North Africa region and conducting workshops, seminars and conferences on governance issues and challenges faced by the Islamic finance industry. The Task Force developed the Policy Brief on Corporate Governance of IFIS that was drafted on a consensus-based document, resulting from fact-finding questionnaire, meeting and electronic consultations. The brief was addressed to policy-makers, Islamic banking regulators, supervisors and Islamic banks for possible adaptation.

Following this public consultation process, the Policy Brief was formally introduced at a press conference held in June 2011. The Policy Brief was circulated to policy makers, regulators, regional media, Islamic banking community and other international and regional stakeholders for adoption and implementation.

Policy Brief on Corporate Governance for Islamic Banks and Financial Institutions in the Middle East and North Africa Region English

Testimonials

  • 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
  • Director Development Program was invaluable learning experience for me which has elevated my knowledge and broaden my understanding mainly on the corporate governance practices and board of directors role. It has addressed the main concepts from theoretical and practical perspectives. The material is comprehensive and provides the key information of the different aspects of the course. I strongly recommend the program for individuals who play role in corporate governance and seek to enrich their knowledge of companies’ board of directors.

    Sumaya Alshaer - Acting Head of Strategy & Corporate Governance - DUBAI SOUTH
  • The Director Development Program is being run with an effective balance between theory presented by knowledgeable staff and interactive discussions among the participants. This makes it into a recommendable program for aspiring and existing Board Members alike to get up to date on Corporate Governance as relevant for our GCC Region.

    Johan H. Brand – Owner – Johan Brand Leadership Advisory DWC – LLC
  • My favorite part of the DDP program is that it teaches you more than academics. It gives you insights on the skills you need as a board member.

    Noora Mahfouth A Mohd Alshehhi - Manager- Contract Review Audit - Dubai Electricity & Water Authority
  • The program was a great opportunity for me to learn about best practices of governance and board dynamics both globally and locally. Having diverse and experienced colleagues brought new and different   perspectives that added value.

    Majid Al Mail - Senior Manager & Head of INNOVATOR Program - Abu Dhabi Technology Development Committee (TDC)
  • Building corporate governance capability is vital for board members, and eventually can help create financially healthier businesses, and more sustainable over the long term. I encourage all seniors to look beyond traditional forms of governance and explore new techniques and patterns that “Hawkamah” has tailored for its unique associates. PDD program has given us the horizon to use these tools on real business cases and prepare us to set in board meetings with self-confidence and sensibility.

    Ekram Al-Yacoub - Saudi Business Analyst and Columnist
  • The DDP course striked the right balances between academic governance literature, class discussion, and trainer background. This was a great course to get more depth in governance with discussions on regional case studies drawn from Hawkamah, class Trainers, or Participants.

    Jasem Alawadhi - Manager CTO - Commercial Bank of Dubai
  • The Directorship Development Program (DDP) provides a structured overview of the skills and responsibilities required by the board member.  The material is interesting and comprehensive in nature, yet practical and immediately implementable.  The instructors add practical insight into the topics, and the diversity of the attendance provides multiple viewpoints.  This program is highly recommended for individuals looking for a structured framework to develop skills instrumental for serving boards.

    Nathalie Sfeir Bsaibes - Legal Consultant - MEG Legal Services
  • I thoroughly enjoyed Mudara’s Director Development Programme and found it to be very beneficial. The content was both well-structured and comprehensive, providing us with an in depth view of global best practices and arming us with the necessary skills to effectively disburse our duties. I highly recommend it for all current and aspiring board members.

    Omar Al Shunnar - Chief Executive Officer - Majid Al Futtaim Healthcar
  • An excellent course, and highly recommended for all Board Members.

    Abdulqader Obaid Ali, Director

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