Bank Muscat, the leading financial institution in the sultanate, has won the 2012 Hawkamah Bank Corporate Governance Award.
The prestigious award, according to a press release, showcases banks that have gone the extra mile in improving their corporate governance practices, beyond the legal and regulatory requirements imposed by their respective jurisdictions.
Ahmed al Barami, AGM chairman’s office, received the award at the ceremony in Dubai attended by senior bankers from the region.
The award jury commended Bank Muscat for introducing a unique approach to the areas of corporate governance and corporate social responsibility. The jury evaluated the various award criteria as well as interviewed a panel from the bank to decide the winner. Hawkamah is a regional initiative aiming at recognizing, supporting and encouraging superior governance practices in the banking sector in the MENA region.
AbdulRazak Ali Issa, chief executive, said, Bank Muscat is proud to win the top Hawkamah award. The prestigious recognition for superior governance leadership serves as a model for banks in the region, Muscat Daily reported.
