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Saudi IOF signs agreement with GCC BDI
BY OUR BUSINESS BUREAU September 12, 2018
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RIYADH: The Institute of Finance (IOF) in Saudi Arabia signed a Memorandum of Understanding (MoU) with the UAE-based GCC Board Directors Institute (GCC BDI) to enhance cooperation in training and development.

Speaking on the agreement, Thamer Al-Essa, Director General of the Institute of Finance, said: “The MoU is part of IOF’s mission to develop the financial workforce in Saudi Arabia, meet the training demands of various entities in the financial sector, and ensure the delivery of best-in-class programs of quality standards to our customers. Our partnership with GCC BDI will also diversify and add to the suite of training programs that are offered in collaboration with a number of regional and international training institutions.”

For her part, Jane Valls, Executive Director of GCC BDI, said: “We are pleased to sign this MoU with the Institute of Finance. We look forward to working with IOF in programs related to members of board of directors and develop a strong and long-lasting relations between both entities.”

Launched in 2007, the GCC Board Directors Institute (GCC BDI) is a not-for-profit organisation that guides board directors of organizations, from family-owned businesses to listed companies, to acquire the know-how and the tools to reach and sustain effective governance.

GCC BDI was founded by four leading regional corporations — Investcorp, SABIC, Saudi Aramco and Emirates NBD - and it is supported by four advisory firms: Allen & Overy, Heidrick & Struggles, McKinsey & Company and PricewaterhouseCoopers, as well as regional regulatory authorities: the Emirates Security and Commodities Authority of the UAE, the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.

GCC BDI now works with over 850 Alumni members who benefit from a network of senior business leaders and a variety of workshops designed for board directors and senior executives. Notably, the Institute hosts an annual Chairman Summit that brings together regional leaders and actors to explore the evolving role and value of Boards as well as appropriate corporate governance standards.

Today the Institute is globally recognised and the only Directors Institute from the region to be admitted to the Global Network of Directors Institute.

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