The Saudi Investment Bank has signed a one-year partnership agreement with the GCC Board Directors Institute (GCC BDI) to support the promotion of corporate governance and board effectiveness in the GCC region.
The Saudi Investment Bank, a listed company, offers traditional wholesale, retail and commercial banking services, and recently came top of the KSA Corporate Governance Index for Financial Institutions.
Faisal Al Omran, CEO of The Saudi Investment Bank, said: “Corporate governance at The Saudi Investment Bank is about promoting fairness, transparency and accountability. We work hard at ensuring the highest standards of corporate governance. More than just a commitment to doing the right thing, we believe good corporate governance is a strong indicator of overall management capability and quality. We are delighted to partner with the GCC Board Directors Institute and support the great work they are doing. This is a further demonstration of our support for good corporate governance and our commitment to enhancing governance practices and stakeholder value in line with Vision 2030.”
Jane Valls, Executive Director of the GCC Board Directors Institute, said: “We are delighted that The Saudi Investment Bank has joined our network of corporate affiliate partners. GCC BDI is a not-for-profit company with a mission to make a positive impact on the economies and societies in the region by promoting professional directorship and raising the level of board effectiveness. Now more than ever, sound board and governance practices are under the microscope of investors and most stakeholders. Having the support of The Saudi Investment Bank will enable us to develop new products and services to better serve the boards in the region, creating greater shareholder value and investment attractiveness.”
Since its inception in 2007, GCC BDI has become the most influential network of board directors and senior executives in the Gulf. The Institute works with listed companies, state-owned enterprises, family-owned businesses, large private companies and multinationals across the region. Today, GCC BDI has over 1,300 members – senior board directors and executives representing over 3,000 blue-chip companies.