Wednesday 19 June 2024

Hawkamah, OECD to host annual conference

Dubai, October 3, 2011

Hawkamah, the institute for corporate governance, and the Organisation for Economic Co-operation and Development (OECD) will jointly host the sixth annual conference in Dubai from October 31 to November 1.

The conference, to be held under the theme: “Words to Action:  The Regional Corporate Governance Challenge,” will discuss the next steps for governance reform in the region.

Announcing this on Monday, Dr Nasser Saidi, executive director of Hawkamah, said, the conference will alos explore how implementation of good corporate governance practices can be supported.

The event is widely regarded as preeminent international and regional gathering that takes stock of the recent governance developments and sets the priorities for home-grown future reform.

The UAE Minister of Economy Sultan Bin Saeed Al Mansoori will be delivering the keynote address at the conference. UAE telecom operator du and Bank of Sharjah will be key sponsors.

According to Hawkamah and OECD studies, there have been significant governance improvements in the past years, with a number of corporate governance codes having been introduced by various capital market regulators and central bank authorities.

“Corporate governance is becoming highly recognized across the world especially after the financial crisis as it plays a significant role in the growth and sustainability of the economy,' remarked Al Mansoori.

'Today we highly require effective corporate governance systems to enhance the quality of operations and management, adding a layer of checks and balances and strategic thinking,' he added.

The summit will feature forward looking panel discussions to explore themes such as director and regulatory capacity; governance of risk; investors and their stewardship responsibilities; challenges faced by state-owned enterprises, family-owned enterprises, and sovereign wealth funds; sustainability reporting; Islamic finance; development of the regional capital markets; and corporate governance research in the region.

Particularly interesting this year is the changing dimensions of the regional corporate governance debates involving regulators and investors, the private and public sectors in light of the ‘Arab spring,’ said the organisers.

Dr Saidi said the summit's ultimate aim was to engage policy makers, practitioners, investors and corporates to share ideas and best practices and debate the best way forward for corporate governance in the region.

Mahmood Ahmad, VP, board relations, corporate governance and compliance at du, pointed out that corporate governance forms the bedrock of a nation’s economy, and contributes to attracting investments that boost the business competitiveness of a nation.

'We realised its importance early on, and incorporated it as a key element of our corporate strategy from the very beginning. We are proud to support this event as the diamond sponsor and exclusive telecom partner,' he added.

VaroujanNerguizian, Bank of Sharjah’s general manager, said, 'We fully believe in the development of better corporate governance and its value in building sustainable business practice.'

The event is being co-organised by World Bank, Dubai International Financial Centre, International Finance Corporation, International Centre for Financial Regulators (ICFR),  Insol International, and Union of Arab Banks (UAB).-TradeArabia News Service

Tags: Dubai | DIFC | OECD | Conference | Corporate Governance | institute | Hawkamah |

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