National Bank of Oman (NBO), the second largest commercial bank in Oman, has been awarded the Hawkamah Bank Corporate Governance — Honorable Mention Award 2012, during the Banker Middle East’s Industry Awards, held recently at the Jumeirah Emirates Towers Hotel, in Dubai.
Senior NBO executives including Stephen Clayton, NBO’s General Manager — Chief Risk Officer and Fadelallah Sulaiman, NBO’s company secretary, received the award on behalf of the bank, at the gala award ceremony.
Launched in 2007, the Hawkamah Bank Corporate Governance Award recognises corporate governance performance of regional banks. Hawkamah received applications from nine banks in the Middle East and North Africa, emphasising the belief that implementing good corporate governance practices is a priority among banks’ in the region.
The Hawkamah Awards have today become a prestigious, competitive and highly coveted bank award that highlights the industry’s strong commitment to good corporate governance. The criteria for the Award on which the jury based its decision included not only the responses to an extensive questionnaire and in-depth interviews with senior staff but the high quality of the winners’ Annual Reports was also a key factor.
Commenting on the award, Ahmed al Musalmi, NBO’s Deputy CEO said:
“We are delighted that NBO has been awarded the prestigious Hawkamah award for the fourth time. The bank’s governance practices are in constant evolution, updating policies and structures to meet shareholder requirements and current trends. Good governance requires long term focus and a commitment to continuous improvement. It is essential to creating lasting value for the bank’s local, regional and international stakeholders. This award is indeed a validation of our continued efforts and commitment to governance practices”.
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