Leading UAE Regulator SCA collaborates with du, to
host series of workshops
Dubai, UAE, 22 January 2014: the Securities and Commodities
Authority (SCA), in collaboration with Emirates Integrated Telecommunications
Company (du) hosted a series of workshops designed to teach 88 present and
future Emirati board members of leading UAE companies including representatives
from du, Dubai Holding, Mubadala and Emirates Investment Authority (EIA).
The workshops, hosted by Dr. Obeid Al Zaabi, SCA Deputy Chief Executive
Officer for legal affairs and insurance and Rami Al Nasour, SCA Financial Advisor,
are in line with the UAE government’s commitment to Emiratisation and
supporting local talent to safeguard the future of its cornerstone
organisations. As part of the wider UAE initiative to support the next
generation of Emiratis and provide encouragement and support on their road to
success, the sessions gave an insight into the key roles and responsibilities
of board members. This guidance was given in accordance with the SCA’s rules
and regulations namely Ministerial Resolution 518 of 2009 concerning governance
and corporate discipline and decision 3/R of 2000 concerning disclosure and
transparency.
Ahmad Bin Byat, du’s Chairman, commented; “Hosting
Board member workshops such as is the outcome of a
fruitful cooperation with the Securities and Commodities Authority. At
du, we firmly believe in translating our values into actions and as such, our
commitment to good governance is evident throughout the culture of our
organisation starting from the board.
“We at du believe it is vital to support the growth and development of
the next generation of talented Emirati leaders by providing our leading national
talent with the opportunity to gain insight into the key roles and
responsibilities of board members, as well as the main governance factors
behind a successful business model. Developing the Emirati talent is a priority
for us in line with the clear message from our leadership.”
Osman Sultan, du’s CEO commented: “There
have been several studies on the connection between the strength of a company’s
board and company performance showing that organisations that apply governance
are more able to retain success and are more flexible to avoid crisis.”
He added: “We at du believe that corporate
governance goes beyond regulatory and legal compliance, but it is a basic the
company relies on to create value and maintain sustainability for the next
generation and for the good of UAE’s economy.”
Du is a market leader in the
field of corporate governance, placing strong emphasis in activities that
reinforce positive values throughout the organization. Du firmly believes that
governance is not just about compliance and control it is about creating value
and sustainability for future generation and the good of the UAE economy.
