Pearl Initiative hosts a corporate roundtable with The Zubair Corporation, and the Capital Market Authority (CMA)
(PHOTO from L to R: Mohammed Mubarek Al Hasani, Head of Corporate Communications, The Zubair Corporation, Imelda Dunlop, Executive Director, The Pearl Initiative, Dr. Faysal Alaquil, Director, Business Development & CSR, CPC, Sir Paul Judge, Joe Murphy, Director of Public Policy, Society of Corporate Compliance and Ethics (SCCE), Pankaj Khimji, Partner Director, Khimji Ramdas LLC, Sheikh Rashad M. Al Zubair, Chairman, The Zubair Corporation, Hamid Sultan Al-Busaidi, Senior Director, Oman Centre for Corporate Governance / CMA, Dr. Amer bin Awadh Al-Rawas, CEO Omantel)
Muscat, Oman: Oman’s premier business leaders gathered at The Bait Al Zubair Museum for an event hosted by the Pearl Initiative, the GCC-based, private sector-led, not-for-profit organisation developed in collaboration with the United Nations Office for Partnerships, to promote best business practices in the Gulf region. The discussion centred on the importance of improving accountability and transparency in the private sector among businesses in the Sultanate and across the region.
High profile speakers at the event included Sheikh Rashad Al Zubair Chairman of
The Zubair Corporation, H.E. Abdullah Bin Salim Al-Salmi, Executive President,
Capital Market Authority Oman (CMA), Abraaj Group Board Member Sir Paul Judge and Joe Murphy, Director of
Public Policy Society of Corporate Compliance and Ethics (SCCE).
The
Pearl Initiative is working together in a strategic partnership with
the United Nations Global Compact, in order to leverage international
and regional expertise, combining global
best practices with locally relevant imperatives.
The Omani event was put together
to
provide the opportunity for dialogue at the highest level on
accountability and transparency best practices, between government,
civil society
and the private sector.
During the course of the day,
speakers highlighted the need for collaboration amongst Omani businesses to encourage positive behaviour
across the GCC. The discussion centered on the path to regional best practices
and the benefits of a robust framework through strong alliances between business, government and educational institutions.
Imelda Dunlop, Executive Director of Pearl Initiative
said:
“Corporate
accountability and transparency are essential to building a healthy and
competitive business environment that fosters economic
growth. Oman
leads the region with regards to governance practices. The country has
the longest standing governance codes in the region and
places high emphasis and efforts on developing a sustainable and
ethical economy.
“Today’s
gathering was a first in that it enabled open discussion between
representatives of some of
Oman’s leading companies and professional bodies. At the Pearl
Initiative we strongly believe in the benefits of best business practice
for all areas of society. The time has come for organisations in Oman
and across the Gulf region to unite to demonstrate
the link between best practice value creation, and encourage the wider
business community to do the same.”
Rashad Al Zubair of The
Zubair Corporation commented:
“At
The Zubair Corporation, we strive to spread the practice of good
governance, in addition to driving business standards in our native
Oman. We want to see all Omani companies
apply the highest standards of transparency and accountability to
promote ethical conduct and timely disclosure procedures. As a partner
of the Pearl Initiative, we will actively engage in dialogue about how
to contribute to good governance.”
After
the success of the inaugural student case study competition that saw
500 students throughout the Kingdom of Saudi Arabia from universities
submit entries, the Pearl Initiative is now launching the case-study
oriented competition in Oman. The competition is aimed at undergraduate
and graduate business students and tasks them with producing a local
case study on corporate accountability and transparency.
Eligible students will have from February to April 2014 to complete and
submit their detailed written case studies, with the winning entries
announced in May 2014.
