AMMAN -- Formulating a localised framework for corporate governance and responsibility will be the task of a forum that will convene at the Dead Sea next month.
The forum seeks to create solid solutions and action plans for administrating corporate governance and responsibility that are appropriate for the business environment in the Middle East and North Africa (MENA) region, according to organisers RAZORView under its new trademark Schema.
Maali Qasem, chairwoman of the organising committee for the MENA Corporate Governance and Responsibility Forum 2007, told a press conference on Wednesday: "The need to hold such a forum has become a necessity and well overdue in order to evolve the region's implementation of corporate governance and responsibility and align the regions business practices with international standards in a manner that is both applicable and effective in the MENA region."
She said the forum aims to benefit all businesses that operate in the MENA region irrespective of size or sector.
"Unlike other events, this forum is focused on creating the necessary corporate culture behind effective implementation of corporate governance and responsibility because with the necessary corporate culture, businesses can substantially gain from these principles and are likely to inherently be in compliance with regulatory frameworks current and future," Qasem added.
According to the press release, participants from Jordan, Qatar, Bahrain, the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Egypt and Lebanon will be attending the event which will bring together leading businessmen, stakeholders, family business owners and experts of corporate governance and responsibility to create a localised framework RAZORView partner Iyas Shuaibi described the forum as distinctive as it will be based on participants interacting and sharing their experience and expertise in their various markets and sectors.
"The think tank method will open opportunities for the business leaders to discuss relevant issues about corporate governance and responsibility so that they may grasp a better understanding of the topics principles and concept," he said
Shuaibi added that participants aim to define corporate governance and responsibility in a manner that facilitates creating value in such principles as well as to set strategies that are effective and sustainable when implemented in the Arab culture.
"The forum will be addressing the corporate demand and processes to bring into effect value generating corporate governance and responsibility corporate cultures," he elaborated. The sessions will be discussing the role, development, and implementation of corporate governance and responsibility as well as how the two topics intertwine."
Each session will start with brief back ground information run down about an issue regarding corporate governance or responsibility to align the audiences' perspectives. The participants will then discuss the topic at hand.
In conclusion, each session aims to provide data on the issue at hand through discussions leading to answers and an action plan that can be the baseline from which to develop a framework for implementing corporate governance or responsibility culture.
Through open discussions, participants aim to clarify the issues and obstacles relating to corporate governance and responsibility in the region.
Qasem stressed the importance to hold such a forum saying it "has become a necessity and well overdue in order to evolve the region's implementation of corporate governance and responsibility and align the regions business practices with international standards in a manner that is both applicable and effective in the MENA region".
The forum is sponsored by Investment Dar, Agility Logistics, Hikma Pharmaceuticals and the Arab African International Bank.
By Samir Ghawi
© Jordan Times 2007
