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NBO Wins Regional Corporate Governance Award

ABU DHABI - The National Bank of Oman (NBO), Oman’s second largest commercial bank, has won the ‘Regional 2008 Bank Corporate Governance Award’ organised by the Institute of Corporate Governance (Hawkamah) and the Union of Arab Banks (UAB).

The Regional Bank Corporate Governance Award seeks to identify and honour banks across the Middle East and North Africa that show leadership and initiative in enhancing good corporate governance.

In order to win this acclaimed award, the National Bank of Oman beat off competition from 35 banking peers in 13 countries across the Middle East.

The selection of the winners of the 2008 Regional Bank Corporate Governance Award was based upon a rigorous assessment carried out by a panel comprised of international banking and governance experts.

Commenting on the award, Murray Sims, CEO of the National Bank of Oman said: “NBO’s governance practices are in constant evolution, updating policies and structures to meet shareholder requirements and current trends.” “Good governance requires a long term focus and a commitment to continuous improvement.”