- H.E. Essa Kazim: “DFM plays an active role in reinforcing awareness of the importance of Corporate Governance in achieving operational efficiency”
- H. E. Hamad Buamim: “When listed companies apply good governance, they not only protect the interest of shareholders, but the society at large”
Dubai Financial Market (DFM) has organized a workshop on best practices of Corporate Governance, with the participation of 10 listed companies, as part of its constant efforts to further enhance the implementation of Corporate Governance within listed companies and strengthen the leading position of Dubai as a dynamic capital markets hub and center of excellence.
Over the past years, DFM has played a pivotal role in promoting the increasing adherence of listed companies to Corporate Governance regulations. This proactive approach has been widely welcomed by listed companies and significantly strengthened investors’ confidence.
Alec Aaltonen, Vice President of Hawkamah Institute for Corporate Governance (Hawkamah), as well as representatives of the Securities and Commodities Authority (SCA), addressed 11 Corporate Governance and Compliance officers of listed companies, who received participation certificates at the end of the event. Companies that participated in the workshop included; Emaar Properties, AMLAK Finance ,Marka, SHUAA Capital, DXB Entertainments, Dubai Refreshments, Alliance Insurance Company, Union Properties, Takaful Emarat Insurance and Dubai Financial Market.
The workshop included the general framework and recent trends of Corporate Governance, and the role of Corporate Governance in reinforcing companies’ growth through the effectiveness of its board of directors and committees as well as audit and compliance teams, which ultimately creates a sound and well-governed framework for the decision making process and enhances companies’ reputation and operational efficiency. The workshop also included the importance of disclosure and transparency in the timely updating of stakeholders about the most recent information and developments, in order to deepen their knowledge about the company and help them to take well-informed decisions.
His Excellency Essa Kazim, Chairman of DFM, said: “DFM relentlessly endeavors to further enhance the leading position of Dubai and the UAE as well as to create a well-disciplined environment that supports sustainable growth. We are committed to promote international best practices of Transparency, Corporate Governance and Investor Relations in an effort that reflects positively on the performance of our listed companies and in line with Dubai’s prominent position as center of excellence in various sectors, particularly business and finance. The past years have witnessed a big leap in listed companies’ adoption of Corporate Governance and we collaborate with various stakeholders, with the SCA as the issuer of rules of Corporate Governance at the forefront, as well as the listed companies and Hawkamah Institute in order to reinforce awareness about the importance of Corporate Governance in achieving operational efficiency.”
His Excellency Hamad Buamim, Chairman of Hawkamah, added: “No economy can strive and grow without the application of good governance. When listed companies apply good governance, they not only protect the interest of shareholders, but the society at large. They also send a message to other companies that good governance is the foundation for long-term success”.
It is noteworthy that this workshop represents the first result of the strategic partnership between DFM and Hawkamah as the two sides aim at organizing series of workshops, programs and training courses to promote best practices within the business sector in the UAE including listed companies as well as private and family businesses.
