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The competition was recently organised by the Institute of Corporate Governance, or Hawkamah, and the Union of Arab Banks, or UAB, in which 30 contestants from 11 Arab countries took part. The criteria for the award included commitment to good corporate governance; structure and functioning of the board of directors; control environment and processes; transparency and disclosure; and treatment of minority shareholders.
Launched in 2007 by Hawkamah and UAB, the “Regional Bank Corporate Governance Award” seeks to identify and honour regional banks that show leadership and initiative in enhancing good corporate governance. The award was presented to NBO’s Deputy General Manager, Mansoor Darwish Al Raisi, and AGM Hassan Abdul Amir Sha’aban, at a ceremony held at the Dubai International Financial Centre.
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