NBB and the GCC Board Directors Institute
sign partnership agreement
Bahrain’s leading bank becomes a Corporate Affiliate of the GCC Board Directors Institute
Bahrain – 5 July 2017: The National Bank of Bahrain (NBB), the kingdom’s leading financial icon and the GCC Board Directors Institute (GCC BDI), the pre-eminent organisation for Boards and directors in the Gulf, have signed a five-year partnership agreement designed to help develop high-performance boards in the Gulf.
Headquartered in Bahrain, NBB has been a key driver of the economic growth of the country for more than six decades and continues to play a compelling role in both for the economy as well as for the entire community.
Commenting on the partnership, Mr. Jean-Christophe Durand – CEO of NBB, said: “Change and the drivers of change are affecting financial services and banking in particular. The banking world is being reshaped by powerful forces and during these times of upheaval, it is imperative that financial institutions like NBB have robust and resilient guiding principles to retain its position as a banking icon. At NBB, we are aware of the responsibility that our organisation has and the significant role corporate governance plays in our management philosophy; we believe that transparent corporate governance is the cornerstone to our spotless reputation and sustainable value. We are delighted to partner with GCC Board Directors Institute to ensure that not only do our principles remain strong but also to further our understanding of the best practices in the region.”
“We are delighted to have NBB join our network of partners and sponsors as a Corporate Affiliate,” said Jane Valls, Executive Director, GCC Board Directors Institute (GCC BDI). “Now more than ever, sound board and governance practices are under the microscope of investors and stakeholders. Working with a financial leader like NBB will support us in promoting the latest corporate governance trends and best practices, improving the effectiveness of boards, and as a result contributing positively to the development of GCC economies. We look forward to a fruitful cooperation and lasting relationship.”
Since its inception in 2007, GCC BDI has grown into the largest Institute of Directors and an advisory body for directors and senior executives of state-owned enterprises, family-owned businesses, listed companies, multinationals, pension funds and sovereign wealth funds across the GCC. Today, this not-for-profit organisation works with over 850 board directors representing over 1800 blue-chip companies, providing them with the tools to acquire the know-how to reach and sustain effective governance.
Established in 1957 as Bahrain’s first locally owned Bank, NBB has grown steadily to become the country’s leading provider of retail and commercial banking services. With a major share of the total domestic commercial banking market and the largest network of 25 branches and 62 ATMs, the Bank plays a key role in the local economy. At the same time, the Bank continues to diversify and develop capabilities to capture business opportunities in the Gulf region and international markets. Our branches in Abu Dhabi and Riyadh lead the way in this initiative.
Publicly listed on the Bahrain Bourse, the Bank is owned 44.94% by private and institutional shareholders, mainly Bahrainis, 44.18% by Bahrain Mumtalakat Holding Company, which is 100% owned by the Government of the Kingdom of Bahrain and 10.88% by Social Insurance organisation.
Market driven and customer led, the Bank harnesses the latest technology to people skills, enabling its 626 employees to deliver highly professional services for retail and corporate customers.
About the GCC Board Directors Institute (GCC BDI)
Launched in 2007, the GCC Board Directors Institute (GCC BDI) is a not-for-profit organization that guides board directors of organizations, from family-owned businesses to listed companies, to acquire the know-how and the tools to reach and sustain effective governance.
GCC BDI was founded by four leading regional corporations – Investcorp, SABIC, Saudi Aramco and Emirates NBD – and it is supported by four advisory firms: Allen & Overy, Heidrick & Struggles, McKinsey & Company and PricewaterhouseCoopers, as well as regional regulatory authorities: the Emirates Security and Commodities Authority of the UAE, the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.
GCC BDI now works with over 850 Alumni members who benefit from a network of senior business leaders and a variety of workshops designed for board directors and senior executives. Notably, the Institute hosts an annual Chairman Summit that brings together regional leaders and actors to explore the evolving role and value of Boards as well as appropriate corporate governance standards.
Today the Institute is globally recognized and the only Directors Institute from the region to be admitted to the Global Network of Directors Institute.
For media inquiries:
Amal Al Derazi Mehwish Sarwar
Marketing Marketing Manager
National Bank of Bahrain GCC Board Directors Institute
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