11 November 2009
ADCB's corporate governance recognized as best in UAE
Abu Dhabi, 11 November 2009: At an awards ceremony held in Dubai on 9 November, organized by Hawkamah, the regional corporate governance institute, ADCB received an award recognizing its excellence in corporate governance. ADCB received the top award given to any UAE bank, and was second across the entire GCC.
The Bank's CEO, Mr. Ala'a Eraiqat commented "In the aftermath of the credit crisis, there is a great deal of focus on bank corporate governance. It is unquestionable that good governance is essential to ensure prudent risk management and sustainability of profits, and to raise investor trust and confidence. The Bank has been, and will continue to be, completely transparent about its positive and negative attributes and will continue to lead the market in keeping investors informed about material issues."
This achievement follows the Bank's recent launch of a global bond offering, the first by a bank in UAE.
The Bank's General Counsel & Board Secretary, Mr. Simon Copleston, recognized the important support for governance initiatives received from the Bank's major shareholders, Chairman, Board and senior management. He added that the award recognized "only the start" of the Bank's ongoing efforts to achieve continued excellence in governance. In particular, he noted that "the Bank will continue to focus on key principles, including integrity, honesty, transparency, and accountability".
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