Dr. Kharbash to Speak at Hawkamah Conference on Corporate GovernancePress Release 24 Oct 2007 09:17 am
UAE Minister of State for Finance & Industry to make
opening keynote address at DIFCweek event
Transparency in financial markets and in the region’s family businesses are the themes of this year’s Hawkamah conference on corporate governance, to be held on November 21 at Dubai International Financial Centre (DIFC) as part of DIFCweek.
The full-day conference has been organised by Hawkamah - The Institute for Corporate Governance. Among the high-profile speakers participating in the Hawkamah conference are representatives from the World Bank, OECD and IFC. It forms part of DIFCweek, a week of headline conferences, lectures and seminars to be held at DIFC, November 17 – 23.
HE Dr Mohammed Khalfan bin Kharbash, UAE Minister of State for Finance and Industry, will give the opening keynote address.
He will highlight the importance of adopting the recent principles of management and structure in order to achieve a professional level of communication with international regulations, supporting the sustainable growth in the region.
The minister will present the UAE’s experience in implementing the principles of corporate governance in business sectors, and the UAE’s commitment to promote equality, transparency, fairness, accountability, and rule of law, as well as how these could help effectively in improving the economy, and reducing the crises caused by improper practice.
Dr Nasser Saidi, Executive Director of Hawkamah, said the conference aims to add value to businesses, economy growth, and corporate governance in the region in both theoretical and practical levels. This can be achieved through reviewing the most updated standards and business models around the globe.
He said: “Transparency in the region’s financial markets is increasingly important as they become integrated with international markets.
“Hawkamah has contributed effectively in introducing measures to improve corporate governance in listed companies. And the next 18 months will see regulators and companies grappling with changing governance structures and board practices to comply with new corporate governance requirements,” he added.
“As equity markets in the region mature and become increasingly integrated with the global economy, both domestic and foreign investors are demanding higher transparency and disclosure standards. Meanwhile, change is also being driven by the growing presence of international firms in the region,” he explained.
Hawkamah was launched in February 2006 with the aim of advancing corporate governance practices in the Middle East, North Africa and Central Asia. As an autonomous association, Hawkamah is bringing together corporate governance practitioners, regulators and institutions to define and develop a home-grown – yet globally integrated – system of governance that promotes institution building, corporate sector reform, good governance, market development and increased investment and growth across the region.