|07 January, 2019

Pearl Initiative Board approves 2019 Strategy to promote a thriving Gulf economy

In 2018, the Pearl Initiative convened 25 events, across eight different cities in the Gulf Region, while also launching 23 reports, including 19 resources and toolkits and 4 major publications.

Pearl Initiative set to continue making an impact as it plans to deliver 65 events and launch 43 publications in 2019 and resources, including practical toolkits across the Gulf Region.

Sharjah, United Arab Emirates: The Pearl Initiative, the business-led non-profit organisation promoting corporate transparency and accountability in the Gulf Region, held its first meeting following the appointment of its new Board of Governors earlier in August.

Offering synergetic capabilities and expertise across multiple regional industries, the new board will support the Pearl Initiative in maximising its impact on the regional economy by ensuring the sound execution of its organisational strategy and annual agenda.

Composed of 16 members with representation from across the Gulf Region, the Pearl Initiative’s Board of Governors includes Mathad Al Ajmi, General Manager and Chief Counsel, SABIC; Patrick Chalhoub, Co-CEO, Chalhoub Group; Jamal Fakhro, Managing Partner, KPMG; Bashar Obeid, CEO, Aramex; Ayman Tamer, Chairman and Managing Partner, Tamer Group; Hamid Jafar, Chairman, Crescent Group; Badr Jafar, CEO, Crescent Enterprises; Hani Ashkar, Middle East Senior Partner, PricewaterhouseCoopers; and Samer Khoury, President, Consolidated Construction Company.

The regional diversity of the board reflects the recognition that business accountability is, and should remain, a multi-sectoral and multi-national enterprise for sustainable economic growth in the Gulf Region.

As part of its own commitment to advancing corporate accountability and transparency, the Pearl Initiative holds quarterly board meetings to approve the organisation’s strategy and business plan, annual budget and annual programme plan.

As part of the 2019 programme plans, the Board approved the scale-up of ongoing programmes, including the Anti-Corruption Best Practice programme, Diversity in Business Leadership, Corporate Governance in MSMEs, Corporate Governance in the Tech Industry, and the Governance in the Philanthropic and Non-Profit ecosystem programme. The re-launch of the Corporate Governance in Family Firms programme was also decided, with a particular focus on succession planning and the role of next generation members in a family business context.

The Pearl Initiative’s future plans are geared towards realising a broad spectrum of positive developments in corporate governance practices as it looks to build on its current programmes and inspire change, further increasing its impact.

The next meeting of the Pearl Initiative Board will be held on March 14th, 2019 in Bahrain.

-Ends-

About the Pearl Initiative

Prominent business leaders from across the Gulf Region formed the Pearl Initiative in 2010 to create a non-profit vehicle for the private sector to collectively take the lead in adopting higher standards in corporate governance, accountability, and transparency to enhance business innovation, opportunity, and value creation.

With over 40 regional and international partners, the Pearl Initiative brings together business, government, and civil society decision-makers to share best business practices and to help maximise the economic opportunities available to companies in the region. The Pearl Initiative also supports Gulf-based university students to identify and embrace strong ethics as they embark on their careers.

The Pearl Initiative seeks joint collaborative action between regional and global business leaders, international institutions, government bodies, and wider initiatives within the Gulf Region, sharing knowledge and experience to influence the entire regional business and student communities.

For more information, please visit www.pearlinitiative.org. Follow us also on @PearlInitiative on Facebook, YouTube, and Twitter and @ThePearlInitiative on LinkedIn.

For further information, please contact:

Mousa Nimer

National Network Communication (NNC)

+971 50 222 0561

m.nimer@nncpr.com

Brittany Brese

The Pearl Initiative

+971 6 515 4664

bbrese@pearlinitiative.org

© Press Release 2019

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