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Mon 30 Apr 2007 02:23 AM

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Dubai gets hawkish on governance

'Hawkamah' and the DIFX have arranged a workshop on good corporate governance.

Hawkamah, the Institute for Corporate Governance, and the DIFX Academy, the training arm of the Dubai International Financial Exchange (DIFX), have announced a two-day director development workshop in Dubai to promote good governance in company boardrooms.

The course will commence on 1 May and cover topics including directors’ duties and liabilities, the importance of independent directors, executive remuneration, procedures of board committees and elections to boards.

“As the leading institution fostering good governance in the region, Hawkamah welcomes this opportunity to help companies establish and maintain first class boards. From this foundation, businesses can achieve operational success while also developing effective long-term strategies, enabling them to compete with the best-run companies in the region and the world,” said Dr. Nasser Saidi, Hawkamah’s Executive Director.

As GCC corporations branch out into the international markets the matter of corporate governance has become more of a topical issue.

The Muscat and Abu Dhabi exchanges introduced codes in 2003 and 2006, while regulators in the UAE, Saudi Arabia, Bahrain, Qatar and Kuwait have all draft codes which are expected to be implemented in 2007.

Hawkamah was set up in February of this year to promote corporate sector reform and better management. The aim of the organisation is to facilitate the economic and financial integration of the region with the rest of the world.

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