Posted On 1/28/2013
ADCCG and Pear Initiative sign MoU to spread governance, transparency and accountability
Abu Dhabi Center for Corporate Governance (ADCCG) , a subsidiary of the Abu Dhabi Chamber of Commerce and Industry, signed a Memorandum of Understanding with Pearl Initiative to foster a culture of transparency and accountability along with its principles and standards and the importance of implementing them within the companies and establishments of the UAE and the countries of the region.
His Excellency Mohammed Helal Al Muhairi, Director General of the Abu Dhabi Chamber, represented the ADCCG in signing the MoU, whereas Mr. Imelda Dunlop, the Executive Director of Pearl Initiative, represented the initiative in signing the memorandum.
His Excellency Khalfan Saeed Al Kaabi, 1st Vice-President of the Abu Dhabi Chamber; and Prof. Hadi Al Tijani, Executive Director of the Corporate Support Sector at the Chamber, attended the signing ceremony of the MoU.
The purpose of this Memorandum is to establish a general framework in which both Parties will cooperate on issues of common interest in order to create a culture of transparency and accountability in the Emirate of Abu Dhabi and the whole country in general.
As for the terms of the MoU, the parties will cooperate as Knowledge Partners in the field of leadership training and educational programs, curriculum development, active dialogue programs and corporate governance programs in support of Pearl Initiative’s goals.
The two sides will also work on enhancing the capabilities of the private sector to develop, implement and monitor better business practices, through encouraging dialogue and input from stakeholders, such as business leaders, investors, academia, media, civil society and others, in forums, roundtables and expert speaker events; and educating future generations of business leaders and policy makers in the GCC region on the importance of integrity, ethics and good business practices.
The MoU aims also at raising awareness of corporate governance issues, frameworks and practices through media engagement, conferences, roundtables and seminars; and sharing of experiences through the development of good practice examples, handbooks, toolkits and manuals on corporate governance good practices.
HE Mohammed Helal Al Muhairi, Director General of the Abu Dhabi Chamber, said that the MoU will contribute towards supporting the efforts of the ADCCG in establishing the culture and principles of corporate governance, pointing out that the ADCCG, which was established as a pioneering initiative by the Abu Dhabi Chamber, aims to raise awareness on governance within public and private companies and establishments and to provide consultancies in governance to prepare the operating companies in the country for governance, and provide them with knowledge and necessary expertise to help them implement the best international practices.