Doha Bank wins 'Best Bank Governance - Qatar 2017'

23/05/2017 07:37 AST

Doha Bank has won the 'Best Bank Governance - Qatar 2017' at Capital Finance International (CFI.co) Awards 2017 held in London.

Doha Bank CEO Dr R Seetharaman said the award recognises the Doha Bank board for its active involvement in promoting excellence in corporate governance, and reviews and provides guidance about the alignment of corporate strategy with risk appetite and the internal risk management structure.

He also said Doha Bank is recognised as one of the few 'Domestic Systemically Important Banks' (DSIB) in Qatar.

"The bank is committed to adhering to and promoting good corporate governance at every level within the bank from the board of directors and senior management down to branch and divisional management and operational employees working throughout the organisation in Qatar and the other cross-border and international locations where the bank operates," he said.

Doha Bank has one of the largest international networks among Qatari banks with presence in 16 countries. In particular, the bank is committed to complying in full with its obligations under the various regulatory regimes applicable to it, Seetharaman said.

"The bank has in place a set of formal and rigorous policies designed to promote good corporate governance and to prevent, detect, and rectify any infringements. The excellence in corporate governance has contributed to sustainable development of Doha Bank. Doha Bank advocates and practices 'green banking', which is one of the core business philosophies that would support the sustainability into the future," he said.

Seetharaman said Doha Bank's long-term local and foreign currency rating was assessed at A2 / A- / A+ / A+ by Moody's, S&P, Fitch, and Capital Intelligence, respectively.

"Doha Bank has a consistent financial performance in the last one decade. It has also conducted and participated in knowledge sharing events relating to climate change mitigation," he said.

He added: "Doha Bank also believes in Sustainable Development Goals, which came into force in 2016 after being adopted at the United Nations Sustainable Development Summit in September 2015. Doha Bank has produced governance reports and sustainable development reports consistently for many years. Sustainability is the key for long-term growth."

Gulf Times