Good governance-focused companies in the MENA region are more likely to attract investment.
Corporate Governance gains traction regionally with 190 Board Secretaries and 170 Directors certified by Hawkamah
Hawkamah, the Institute for Governance, has announced that it has achieved a new milestone in corporate governance in the Middle East as companies in the region embrace good corporate governance to attract more investment The institute has now certified 190 Board Secretaries and 170 Certified Directors, demonstrating its commitment to improving regional corporate governance practices.
Corporate governance is globally recognised as critical to business success and sustainability. Studies show that companies with strong corporate governance practices are 29% more efficient at generating profits and are more attractive to investors due to better stock market performance and returns. Hawkamah's certification programs, including the Director Development Programme and the Company Board Secretary Workshop, are vital in advancing regional corporate governance practices and promoting transparency, accountability, and responsible business practices.
Dr Ashraf Gamal El Din, Chief Executive Officer of Hawkamah Institute for Governance, said: "We are proud of the progress we have made in certifying Board Secretaries and Directors in the region. This achievement reflects the growing recognition of the importance of corporate governance and the demand for high-quality training and certification programs for board members and professionals."
Hawkamah also recognises the importance of board diversity for business longevity, believing that a diverse board leads to better decision-making and outcomes. In addition, the organisation encourages companies to adopt diverse board structures and offers training to enhance the board's skills in this regard.
"Board diversity is key to sustainability, as it brings value and fresh perspective to organisations across the MENA region, helping them to prosper and contribute to the economic growth of the region," said Dr Ashraf Gamal El Din.
Since 2006, Hawkamah has been at the forefront of shaping good governance in the region, advising regional governments, companies and boardrooms and providing training and certification programs for board members and senior executives. In 2017, Dubai Financial Market (DFM) mandated the Hawkamah Certified Board Secretary Workshop for all DFM listed companies. The institute's certifications are recognised and respected throughout the Middle East and beyond, representing a rigorous standard of knowledge and expertise in corporate governance.