Dubai, March 29th, 2011 (WAM) -- Ahmad Bin Byat, Chairman, du, has reiterated company's commitment to implementing the best corporate governance practices.
Speaking at a workshop he said: "these activities give us an opportunity to discuss industry best practices that we as an organisation can implement, going forward and i am thankful to all the attendees for their contribution in making this effort a success." The workshop was opened by Dr. Nasser Saidi, Executive Director, Hawkamah in the presence of Maryam Al-Suwaidi, Deputy CEO for Legal Affairs, Issuance and Research, The Emirates Securities and Commodities Authority (SCA), Ahmad bin Byat, Chairman, du, members of the Board of Directors, Osman Sultan, CEO, du and the executive management team. The initiative is part of dus efforts to continuously improve and fine tune its pillars of corporate governance - Accountability, Fairness, Transparency and Responsibility. The internationally renowned workshop which also featured Karl Tabbakh, Partner DLA Piper, examined the legal framework of Corporate Governance and directors duties and liabilities in the UAE. It also covered a variety of interactive sessions on the Fundamentals of Corporate Governance, Risk and Crisis management, Transparency and Disclosure and Shareholder Rights. Dr. Nasser Saidi, Executive Director, Hawkamah Institute for Corporate Governance said: "Various Hawkamah studies over the recent years have indicated that du is among the top ranking UAE companies in terms of their corporate governance and disclosure practices, and these workshops demonstrate dus continued commitment to good corporate governance. For any corporate governance framework to be effective, the Boards engagement, commitment and knowledge are crucial. Hawkamah is proud to be supporting dus initiatives to abide by international best practices and thereby set an example to the regions companies." The event featured an exclusive screening of the new DLA Piper film "Counting the Cost", with a commentary provided on issues highlighted in the film by an impressive panel of speakers. "As the Middle East continues to develop, it is important that companies across the region focus more attention on corporate governance to ensure guidelines and regulations are in place to protect companies and shareholders. Companies such as du can be seen as an example of how international best practice can be implemented on a practical level and we're delighted to be working with a board that places corporate governance so high up the agenda." Murad Abida, Head of Corporate Middle East, DLA Piper.Copyright Emirates News Agency (WAM) 2011.
