DFMC holds Board Briefing on Corporate Governance

17/04/2017 16:15 AST

Dubai Financial Market Company (PJSC) organized a Board Briefing session aimed at updating its Directors on latest developments and best practices of Corporate Governance. The session underlines DFM's constant efforts to further enhance the implementation of Corporate Governance and strengthen its leading position, since it went public in 2006 in a first of its kind step in the region.

The session was organized in collaboration with Hawkamah Institute for Corporate Governance (Hawkamah) as part of the strategic partnership between the two entities, which promotes cooperation in organizing series of workshops and training courses in order to promote best practices of Corporate Governance within businesses in the UAE, including listed companies as well as private and family businesses.

It is noteworthy that the shareholders of DFM Company elected a new Board of Directors for a three years term during the Annual General Meeting held on 13 March 2017.

During the Board Briefing session, Dr. Ashraf Gamal El Din, the Chief Executive Officer of Hawkamah, explained the role of Corporate Governance in achieving Board effectiveness, the role and responsibilities of Directors, the Board's role in strategy and sustainability, and the Board's role in risk management. The session emphasized the important role of good governance in creating a sound framework for the decision-making process, which positively affects company's reputation and performance.

Moreover, the session addressed the importance of disclosure and transparency in providing investors and various stakeholders with necessary information and updates within well-defined timeframes, which deepens their knowledge about the company and supports the investment decision-making process. It also included the responsibilities of the Board and its committees as well as regulations on conflicts of interest and insider trading.

His Excellency Essa Kazim, Chairman of DFM, said "As part of our profound belief in the vital role of Corporate Governance in achieving operational efficiency, creating value for shareholders and further reinforcing investors' confidence, DFM steadfastly endeavors to promote best practices of Corporate Governance and Investor Relations. This is a specific commitment for DFM as a publicly listed company that leads by example and as an exchange that is trying to promote best practices amongst various participants, with listed companies at the forefront."

He added, "Undoubtedly, our efforts in this regard positively reflect on the performance and further strengthen the leading position of Dubai as a center of excellence in general and of capital markets and businesses in particular. The commitment of DFM Company in terms of implementing best practices of Corporate Governance ensures that the Board is ideally addressing the strategic guidance of the Company whether in terms of attracting highly experienced Directors or the formation of Board committees in line with the Corporate Governance framework. The Board Briefing offered us the opportunity to discuss various aspects of Corporate Governance as well as updating the Board on recent trends in order to further reinforce the significant role of the Board in driving the successful journey of the Company over the coming period. We would like to extend our thanks to Hawkamah for cooperating with us to hold this Board Briefing. "

Press Release