National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was awarded the UAE Banks Corporate Governance Award in the category of Overall Corporate Governance Structure.
The award was launched by Hawkamah, the Institute for Corporate Governance, and the Emirates Bankers Forum, to recognize and acknowledge those banks that have shown a commitment to improving their corporate governance in accord with best international practices. The award also seeks to highlight and encourage UAE banks to implement and improve their corporate governance.
“We are delighted that NBAD has been awarded the UAE Banks Corporate Governance Award in its first year,” said Mr. Michael Tomalin, NBAD’s Chief Executive.
“We consider this award to be valuable recognition of NBAD’s commitment to the principles of corporate governance. Successive Boards of Directors have always ensured that the bank adhered to the highest standards of corporate governance and corporate responsibility by translating their intent into a regimen of exemplary practices. This approach has kept NBAD well protected from financial misfortunes over the past four decades,” he added.
“To further improve the bank’s performance and services offered to its customers and the community, the Board established the Corporate Governance Committee (CGC) in 2006, headed by the Chairman and two board members. The CGC assists the Board in shaping and monitoring corporate governance policies and practices as well as evaluating compliance of them” Mr Abd El Hamid Amer, General Counsel and Head of Legal Department commented.
“This prestigious award adds a new chapter to NBAD’s book of achievements as our continuous efforts to meet the demands of our valued customers has made NBAD an award winning leader in the UAE and GCC financial services industry” said Mr. Abdulla Ghobash, NBAD’s Regional Manager in the Northern Emirates, after receiving the Award at a glittering award ceremony in Dubai.
