Kuwait banks order governance programme

The Central Bank of Kuwait (CBK) and the Institute of Banking Studies (IBS) co-organized a program on "rules and systems of good governance" as part of macro hedging policies to help banks fully implement CBK instructions.  An IBS statement said that CBK Governor Mohammad Al-Hashel sponsored and attended the program, which aims at improving the governance environment in the banking sector in particular, and in the local business environment in general.  The program includes case studies of international companies that failed to implement sound governance policies and their fate, and others of the challenges facing boards of directors of many companies when it comes to applying the criteria in this field.  This program is especially designed for members of company boards who are also members in risk management, auditing, nominations, bonuses, and good governance committees, it said.  Former professor of American Harvard University, and Head of an executive education academy in the US, Nabil Al-Hage will present this program.  A number of other programs will be organized to whet the skills of members of the boards of directors and executive departments at Kuwaiti banks. They would cover the fields of risks management, Internal control and audit systems, strategic planning, and financial analysis.  The two-day program was attended CBK Deputy Governor Yousif Al-Obaid, with the participation of 37 chairmen and members of boards of directors of Kuwaiti Banks.