Regional finance heads gathering in Dubai next month for the Middle East Corporate Governance Summit

The Middle East Corporate Governance Summit will be held at the Al Manzil Hotel in Dubai from the 9th - 11th February 2009, bringing together leading experts from the region and internationally.

Andre Baladi, co-founder of the International Corporate Governance Network and advisor to the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting of the U.N. in Geneva said:

"Current stormy financial markets highlight the importance of corporate governance to prevent, resolve or at least reduce the negative impact of financial crises in the future."

Baladi will present guidance on best practices in Corporate Governance disclosure at the summit in February.

In general, companies in the Middle East region are still falling well below international corporate governance standards. However, with the opening up of the GCC stock markets to foreign investors and a host of new codes and regulations to comply with, pressure to provide full transparency and financial disclosure is now acute.

This summit will address current issues including understanding the region's best practice codes set by Hawkamah and Emirates Security and Commodities Authority, educating top management on the benefits of good corporate governance, establishing internal policies and procedures, attracting foreign investments by improving financial and reporting standards and understanding cross-border regulation and cooperation.

Other speakers at the event include representatives from Hawkamah - Institute of Corporate Governance, World Bank Group, Corporate Governance and Sustainability Center, Emirates NBD, CSR Middle East and Yale School of Management.