Pandemic fuels demand for Corporate Governance Training in GCC
The GCC Board Directors Institute (GCC BDI) has seen a rise in its membership to 2,000 post-COVID-19, a 38 per cent increase over the previous year. The numbers clearly imply that more organisations in the region are now seeking to streamline their operations and instil best practices among their Boards of Directors to optimise efficiencies and institutionalise an organisation-wide culture of corporate governance.
GCC BDI members have been benefiting from expanded membership services during 2020. These include study trips, access to a listing on the Directors Register, a pool of independent directors and senior executives from a cross-section of industries and professions, and the Board Opportunities service, which enables companies to recruit suitable independent directors to their own boards.
Speaking on the upturn in membership, Jane Valls, Executive Director, GCC BDI, said: “As we continue to navigate a post-pandemic world, it is increasingly clear that only through placing a strong emphasis on corporate governance, corporate culture and long-term purpose and strategic vision can organisations in the region hope to survive and thrive today. The Board of Directors in every organisation sets the tone at the top and the strategic direction. Board effectiveness and board leadership are now more important than ever to ensure resilience and sustainability and long-term value creation”.
The new GCC BDI Mentorship Programme encourages a culture of learning and allows them to acquire insights from more experienced directors, take ownership of their personal and professional development, and thereby enhance their leadership skills.
Adel Mallawi, Chief Investment Officer at Banque Saudi Fransi, a new member of GCC BDI, felt that joining GCC BDI gave him “confidence in the Boardroom and enabled him to look at strategies from a different perspective and assess the effectiveness of control functions and risk management. He added that being a member gave him the ability to analyse the composition of various committees in place and understand if they have the right people on them, including inclusivity and diversity.
Membership provided in-depth understanding of board governance and best board practices. Training both in-class and online has allowed these members to share challenges as well as experiences and best practices, which have also been part of the professional development experience.