Dear GCC BDI member,
We have lots of exciting news for you in this edition.
First of all, I’m delighted to announce the appointment of Mohammed Subaie as GCC BDI’s Ambassador for the Kingdom of Saudi Arabia. As former Auditor General at the world’s largest private company, Saudi Aramco, Mohammed has a wealth of knowledge to bestow upon us and is a hugely valuable addition to the team.
This issue features practical insights from Gaby Hakim, Chief Legal Officer at National Bank of Bahrain – discover how he found working on different projects with GCC BDI here.
Khalid Mohamed Kanoo looks back on a year of change at Yousuf bin Ahmed Kanoo Group here.
Catherine L. Zych also provides useful hints and tips on how to prepare for a first year as a listed company in her article: Anticipating what comes after the IPO. Click here to learn more.
GCC BDI is delighted to announce that we have a forged number of new alliances in recent months.
In February 2019 we welcomed NBK Capital, as our new Corporate Affiliate. Click here for further detail.
Next, we signed an alliance with Nasdaq Governance Solutions in March 2019. Click here for detail.
Finally, we have very recently welcomed The Saudi Investment Bank (SAIB) as our latest Corporate Affiliate. More news on this will follow in our next newsletter, please stay connected.
We look forward to working together with all these highly respected partners to further strengthen corporate governance and board effectiveness across the GCC.
About the Director Development Programme
The first stage of the programme is The World of Directorship, the Certificate in Board Directorship course.
Upon completing the four modules and passing the assessment test, The Financial Academy and GCC BDI will award the successful participants with the Certified Director (Cert.Dir.) title. A Cert.Dir. can further advance their development with the Mastering the Boardroom diploma, followed by the Chartered Director module.
GCC BDI has launched its new Director Certification Programme in partnership with The Financial Academy.
This flagship programme will be known as the World of Directorship – Certificate in Board Directorship.
GCC BDI Membership Programme and Benefits. GCC BDI is proud to have over 1300 board directors and senior C-suite executives from across the GCC as our members, each with extensive experience of operating the highest levels of business.
An effective corporate governance framework forms part of creating an open and transparent culture within an organisation. It allows a common understanding of the expectations which apply from the top all the way down. As such, it creates a sense of unity of purpose and clarity of approach within an organisation, which staff appreciate. It also forms a core part of the risk analysis and protection framework within an organisation.
This helps detect and prevent prospective potential liabilities and so reduces the costs associated with failure to uphold an appropriate risk and reporting framework where otherwise, for example, conflicts of interests would lead to an organisation making decisions it would not otherwise take and open the door to sub-optimal outcomes.
Ensuring personal accountability, early internal reporting of potential issues, ethical standards across an organisation and building in the advice of independent expertise in relation to strategy, will ultimately lead to better decisions being made in a more timely and open manner. This, in turn, naturally increases the success rate of initiatives undertaken and allows early detection and mitigation of potentially negative outcomes.
The launch, marks the commencement of a programme that encompasses the core knowledge and awareness necessary to function effectively as a director. Specially designed for GCC BDI by Dr Chris Pierce, CEO of Global Governance Services and former Director of Professional Standards at the Institute of Directors in the UK, the programme provides a structured roadmap for director development. Tailored to directors in the GCC region, the modules focus on knowledge, understanding, skills, mindsets, attitudes and values.
The GCC Board of Directors Institute NBK Capital, one of the region’s leading investment firms, has signed a one-year partnership agreement with GCC Board Directors Institute. Mr. Faisal Al-Hamad, Chief Executive Officer represented NBK Capital and Mrs. Jane Valls, Executive Director represented GCC Board Directors Institute at the signing, with attendance of several senior officials from both organizations.