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Workshop: "Whither Corporate Governance in Light of Current Arab Developments and Repercussions of the Financial Crisis"

Tuesday
April 17, 2012
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The Faculty of Commerce and Economics at BZU held a workshop entitled: "Whither Corporate Governance in Light of Current Arab Developments and Repercussions of the Financial Crisis" on 14 March 2012. The Chairman of the Palestinian Capital Market Authority, Mr. Maher Masri; Director of Palestine Governance Institute, Dr. Hisham Awartani; and Professor of Accounting at BZU, Dr. Naser Abdel Karim were keynote speakers.

 

 

In his opening address, BZU Professor of Economics, Dr. Anis Hijjeh, defined the concept of governance. He noted that “Corporate governance is mainly concerned with management style and control, as well as examining the capabilities of the Board of Directors to formulate policies and set goals that meet the interests of shareholders and other stakeholders."

Al-Masri gave a briefing on the status of public shareholding companies in Palestine, addressing key issues related to the concept of corporate governance and stressing the most important pillars of corporate governance: transparency and disclosure. He called for the disclosure of financial statements and objective assessment of assets and loans.

Dr. Awartani overviewed the Palestinian Code of Corporate Governance in Palestine, listing the principles of governance: free elections, freedom of the press, transparency, accountability, commitment to law and jurisprudence, and effective mechanisms for monitoring and combating corruption.

Dr. Abdel-Karim noted that corporate governance is of great importance, since it aims to improve the quality of board members’ practices and company performance, as well as raising the competitiveness and value of the company while enhancing the confidence of other stakeholders.

 

 

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