Burgan Bank recognized at Hawkamah, UAB 'Regional 2008 Bank Corporate Governance Award'

This is the second consecutive year that the bank has been conferred this Award; last year, it emerged as the winner of the region's first-ever 'Hawkamah UAB Bank Corporate Governance Award 2007', having contended with over 40 banking institutions across the region for the coveted title.

"We are honoured to receive this Award for the second time around," says Burgan Bank Vice Chairman Mr Majed Eisa Al Ajeel, commending the Hawkamah Institute and the Union of Arab Banks on their endeavours to institutionalize an Award and a forum of exchange on a subject that is extremely pertinent to the progress of the regional economy.

Mr Majed, adds:

"We acknowledge our potential to significantly impact and augment the economic and social foundation of the country, and consequently even that of the region. Our endeavours towards this vision are firmly guided by our foremost commitment to sound corporate governance policies, which in turn reflect our core values, business objectives and a corporate philosophy that is strongly orientated towards the interest of our stakeholders."

The Bank was acknowledged for its commitment to Corporate Governance following a rigorous assessment of banking and financial institutions across the region by an international jury of experts. The decisive proficiency areas included commitment to good corporate governance, structure and functioning of the Board of Directors, controlled environment and processes, transparency and disclosure, and treatment of minority shareholders.

Dedicating the Award to Burgan Bank's Shareholders, Board of Directors, Senior Management and staff members for their distinctive dedication and indefatigable endeavours towards excellence and innovation, Mr. Majed Eisa Al Ajeel expressed the Bank's firm belief that the Hawkamah - UAB Regional 2008 Bank Corporate Governance Award extends beyond merely being an Awards event to being a meeting ground that renders mutually enriching learning experiences that will elevate the Corporate Governance culture in the region.