Under the patronage of H.E Sheikh Ahmed bin Mohammed Al Khalifa, Governor of the Bahrain Monetary Agency (BMA), a press conference was held today at the Gulf Hotel announcing The Corporate Governance Conference. The conference; which will also be held at the Gulf Hotel, will take place on Sunday 28th November, 2004.
Corporate governance is the system by which business corporations are directed and controlled. The structure of such a system determines the distribution of rights and responsibilities among a corporation's various components, such as the board, managers, shareholders and other stakeholders, and it outlines decision-making rules and procedures for corporate affairs. These procedures also provide the structure through which company objectives are set and the means of attaining those objectives, as well as monitoring performance.
"Since the mid-90's, corporate governance has been one of the most hotly contested topics. It has been a dominant policy issue in developed market economies for more than a decade, and the subject is rapidly climbing the ladder of policy priorities. Corporate governance has succeeded in generating such a significant interest because of the weight it holds in influencing the economic health of corporations and society in general. Also, since the Asian Crisis, corporate governance has become a buzzword in the development debate," explained H.E Sheikh Ahmed bin Mohammed Al Khalifa, BMA Governor.
Dr. Khalid Ateeq, Executive Director for Banking Supervision at the BMA added, "BMA, like other financial sector regulators, has been placing increasing emphasis on the need for effective corporate governance in licensed institutions, as a critical component of a sound financial system.
Without effective government in place, financial sector firms carry increased risks of failure, and of regulatory intervention. It is a subject that Boards and management of firms can no longer ignore".
Renowned international speakers will be speaking on various topics such as: What is Corporate Governance? Board, Director, Chair, and CEO role definition, Board and Organisational structure, Corporate Governance as a tool for fraud prevention, the role of the regulatory and competitor environment, Governance Models and Standards, the role of an audit committee, conducting a Governance Review on your organization, and case studies of Corporate Governance.
The target audience is Board Chairmen and Directors, Chief Executives, General Managers, Senior Managers, Business Owners, Regulators, Lawyers and legal advisors, Auditors, and Stock Exchange officials.
Saleh Hussain, Head of the Bankers' Society's Social and Informational Committee, added, "Effective corporate governance is essential for any organization's development and competitive growth. Therefore, many corporate 'directors' lack the properneed to further develop their understanding of the implications of their accountability; for example Enron provided an unpleasant insight into organisational results of poor business ethics, lack of morality and inadequate corporate governance.
"Corporate decision makers will have the opportunity to receive counsel on how to enhance transparency and measure the potential risk that bad management policies pose to shareholders and creditors and thus the future of their organisation."
The conference is designed to provide in-depth knowledge on the subject at a senior level by addressing recent developments and issues surrounding effective and efficient corporate governance, as well as presenting the latest executive management guidelines and practices for responsible organizational direction and management.
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Issued by T&M EVENTSCOM, Bahrain. For further information, please contact the Bankers Society in Bahrain on Tel: +973 17 728 003
© Press Release 2004
