Dubai - Ma'aden, the leading mining and metals company in Saudi Arabia, has partnered again with the GCC Board Directors Institute ("BDI") in committing to high corporate governance standards, with the official signature of a sponsorship agreement in Riyadh.
Engr. Nabil bin Abdulaziz Al Fraih, Senior Vice President, Human Resources and Sustainability of Ma'aden commented, "At Ma'aden, we place a critical importance on Corporate Governance to ensure we are aligned with best practices at all times. It is significant for us in order to protect our shareholders rights, as well as those of our other stakeholders. We are delighted to be partnering again with BDI given our relationship to date and the significant impact it has had on lifting corporate governance standards in the region since its inception."
He added, "The signature of this new agreement also embeds an innovative training platform for Ma'aden employees to access in order to always be well-informed of the latest best practices, be local or international, as well as networking opportunities with other board members across the Gulf. This agreement further enhances our corporate commitment to transparency and integrity towards our investors."
Mr. Mohamed Al Shroogi, President Gulf Business of Investcorp and Chairman of the Board of Governors of BDI, said "We are honored by the continued partnership between Ma'aden and the Institute. It is a clear testimony of the company's commitment to the highest standards of corporate governance and its vision to be a world-class minerals enterprise to help develop the mining sector as the third pillar of the Saudi economy."
This month, BDI also inaugurated new half-day Focused Sessions for its members. The first one focused on shareholders rights and responsibilities. The Institute also held its 19th Foundations of Directorship Workshop, a core part of its curriculum, in partnership with SABIC.
In 2014, Ma'adenreceived an Award from the British magazine World Finance, for Best Corporate Governance in the Kingdom.
The picture can be downloaded here: http://we.tl/zI0ySBCjRg
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About the GCC Board Directors Institute ("BDI")
BDI is the pre-eminent organization in the GCC for boards and directors. It was launched in 2007 by a combination of four leading regional corporations: Investcorp, SABIC, Saudi Aramco and Emirates NBD; four leading advisory firms: Allen &Overy, Heidrick& Struggles, McKinsey & Company and PricewaterhouseCoopers; and with the support of regional regulatory authorities: the Emirates Security and Commodities Authority of the UAE, the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.
The Institute's mission is to make a positive impact on the economies and societies of the region by promoting professional directorship and raising the level of board effectiveness. Its main objectives are to:
● Enhance GCC board member capabilities and further their understanding of best practice board governance;
● Create a regional network of board members;
● Disseminate high quality corporate governance knowledge;
● Put corporate governance higher on the region's agenda.
BDI has delivered over 35 workshops for senior board directors and counts over 500 members who, through their membership in the Institute, have gained access to an exclusive network of like-minded board directors and business leaders.
For more information on BDI, please visit the Institute's website at: www.gccbdi.orgor contact the Institute directly at getinvolved@gccbdi.org.
About Ma'aden
Ma'aden is the leading mining and metals company in Saudi Arabia. We are building a minerals based industry in Saudi Arabia to add value to the Kingdom's gold, phosphate, bauxite and other mineral resources by producing a broad range of commodities for domestic and global markets. Our vision is to be a world-class minerals enterprise. Our mission is to help develop mining into the third pillar of industrialization in the country, besides oil and petrochemicals. In the process, Ma'aden is helping build industrial cities, create jobs and enable communities to prosper. As we continue to explore the Kingdom's natural resources and assess growth and diversification opportunities, we are committed to deliver that promise by upholding our values and adopting best practice across everything we do.
Contacts
GCC Board Directors Institute
Mira Alrabi
Marketing & Communications Manager
mira.alrabi@gccbdi.org
Ma'aden
Bander M. Al-Aida
Section Head-Media Relations
CCD, External Communications
AidaB@Maaden.com.sa
© Press Release 2015
