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Concluding the Second Arab Regulators’ Corporate Governance Forum on Enhancing Corporate Governance in the Arab Region

Published on: 03/09/2017

The Union of Arab Securities Authorities (UASA) and the Arab Monetary Fund in association with the Organization for Economic Cooperation and Development (OECD), the International Financial Corporation (IFC) and the GCC Board of Directors Institute, held the second annual Arab regulators’ corporate governance forum on “Enhancing Corporate Governance in the Arab Region: Building Bridges with Boards of Directors” on 8 - 9 of March 2017 in Abu Dhabi, United Arab Emirates. The forum emphasized on the importance of governance and the important role played by the regulatory authorities in promoting the principles of disclosure and transparency, and support sustainable economic growth, in addition to emphasizing on the important role the boards of directors play in this area. A group of experts and specialists from various international, regional and Arab institutions participated in this event.

In day one, the forum discussed a range of issues of concern to the Arab Capital Markets, regulatory authorities, and all relevant institutions. These issues included conduct risk, structural reform of the banking sector, measuring risk exposures, technology, innovation and complexity and the cost of regulation. The forum also discussed the challenges facing the compliance of the new G20/OECD Corporate Governance Principles and the role of the legal and regulatory environment for effective implementation of these new principles, in addition it discussedp how to build bridges with the boards from the boards of directions view.

Day two focused on boards diversity including independent directors, remuneration should or shouldn’t be regulated and Woman’s role in the board, in addition to compliance monitoring pointing the best practices and the lessons learned and a discussion on how to monitor related party transactions (RPT) and conflicts of Interest. Day 2 also discussed the corporate governance codes the “hard” laws versus the “soft” codes, new trends and best practices.

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