The Securities and Commodities Authority (SCA), in collaboration with Emirates Integrated Telecommunications Company (du), has hosted a series of workshops designed to train 88 current and future Emirati board members of leading U.A.E. 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 U.A.E. government's commitment to Emiratisation and supporting local talent to safeguard the future of its cornerstone organisations.
As part of the wider U.A.E. 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.
Ahmad bin Byat, du's Chairman, commented, "Hosting board member workshops 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 with 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 opportunities 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 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 U.A.E.'s economy."