National Bank of Dubai

The Emirates Bankers’ Forum hosts Indian Minister of Commerce and Industry
Hawkamah rolls out the 2008 UAE Bank Corporate Governance Award at the Forum

Dubai: 24 April, 2008

The Emirates Bankers’ Lunch organized by Mr. Sulaiman Al Mazroui, President Emirates Bankers’ Forum, hosted today H.E. Shri Kamal Nath, India’s Minister for Commerce and Industry.

The Forum also witnessed the announcement of the Hawkamah Institute for Corporate Governance’s 2008 UAE BankCorporate Governance Award’ .

H.E. Kamal Nath spoke to the audience about the strong historical, commercial and economic ties between the UAE and India and the importance of strengthening partnerships between the two countries. He also shared his thoughts on the growth of the Indian economy and the opportunities that this promising market offers the UAE and the region.

Mr. Sulaiman Al Mazroui, President of Emirates Bankers’ Forum said, “I would like to take this opportunity to express my gratitude to H.E. Shri Kamal Nath for his support to the Forum.”

Later during the event, Dr. Nasser Saidi, Director of Hawkamah launched the ‘UAE Bank Corporate Governance Award’. He said, “The award will evaluate corporate governance standards in the UAE banking industry against international best practices. This will enable Banks to obtain an independent and credible assessment of the quality and extent of their corporate governance practices, which will be used as a reference to set benchmarks for further improvements.”

Mr. Sulaiman Al Mazroui, President of Emirates Bankers’ Forum said, “I would also like to call upon all UAE Banks to participate in the 2008 UAE Bank Corporate Governance Award. Initiatives such as these motivate our industry to improve and exceed performance expectations. The Emirates Bankers` Forum has grown in popularity and in profile since it was launched. It has proved to be an ideal platform for senior executives of the banking and finance industry to exchange views and expertise.”

As India’s minister of commerce and industry, Shri Kamal Nath has undertaken major trade policy initiatives. During 2004, he announced for the first time, a comprehensive Foreign Trade Policy that laid out a coherent roadmap for trade development with a twin focus on exports as well as employment. India's merchandise exports rose to around US$ 80 billion registering over 24% growth in 2004-05 over the previous year. Under his leadership, major bilateral trade initiatives were forged with countries like China and Pakistan. There was also significant progress in the area of regional trade agreements.

The 2008 UAE Bank Corporate Governance Award is organized by the Hawkamah Institute of Corporate Governance. The Award seeks to encourage and promote the adoption and implementation of good corporate governance practices among banks in the UAE. The winner and two runner-ups of the Award will be announced during the Emirates Bankers’ Forum Lunch in October 2008, in Dubai.

	H.E. Ahmed Humaid Al Tayer,Chairman Emirates NBD and H.E. Shri Kamal Nath,India’s Minister for Commerce and Industry.

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