Board Directors Institute Expands Presence in GCC with New Office in Bahrain Under the Patronage of Central Bank of Bahrain

DUBAI, March 26, 2012 /PRNewswire/ --



The GCC Board Directors Institute (BDI), the regional, not-for-profit, Corporate Governance institution, today announced that it has opened an office in Manama, the Kingdom of Bahrain. The new office will strengthen BDI's presence in the Gulf Cooperation Council (GCC) region and principally focus on increasing awareness and implementation of good Corporate Governance practices in Bahrain and other GCC countries.

"The opening of BDI office in Bahrain is an important step towards realizing our goals;" said Dr. Abdullah Al-Abdulgader, Founding Executive Director of BDI. "Which is to build GCC board member capabilities and enhance their understanding of best practice board governance," he added. The new office for BDI will be the first of many important developments for BDI in 2012 and going forward" he concluded.

Over the past 5 years, and with over 300 members, BDI has established itself as a principal front of comprehensive Corporate Governance practice education programs and services. Through dynamic and interactive training and development opportunities, BDI continues to reach an ever-growing audience of Board Directorsfrom the private and public sectors.  

BDI has been registered as a Professional Body, in the Kingdom of Bahrain under the umbrella of the Central Bank of Bahrain (CBB).Commenting on BDI new presence, Mr. Rasheed Mohammed Al Maraj, Governor of CBB said: "We welcome BDI to the Kingdom of Bahrain.We are pleased to support such a positive initiative and we look forward to supporting their growth in the region. High standards of Corporate Governance are essential to improve the national investment climate and promote the development of a vibrant private sector and capital market."

Speaking on the occasion, Mohammed Al-Shroogi, Investcorp'sPresident, Gulf Business, [and BDI GCC board governor] said: "We firmly believe that enhancing board members' knowledge and capabilitiesis key to improving board effectiveness. BDIprovides members with access to global best practices and benchmarks, so that decisions are made effectively and it is understood that sound corporate governance is a core element of a company's business strategy."  

BDI was launched in 2007 with the supportfromSaudi Aramco, Investcorp, SABIC, and EmiratesNBD. It is the result of an initiative led by four leading advisory institutions: McKinsey & Company, Allen & Overy, Heidrick & Struggles, and PriceWaterhouseCoopers. Since its inception, BDI has been working with the support of the regional regulatory authorities including the Central Bank of Bahrain, the Capital Market Authorities of Saudi Arabia and Oman, the Qatar Financial Centre Regulatory Authority and the Securities and Commodities Authority of the UAE.

About the GCC Board Directors Institute

The Board Directors Institute (BDI), a not-for-profit association, headquartered in Dubai, UAE was launched to support better Corporate Governance and build board member capabilities through information exchange, and professional development programs.

BDI was launched in 2007 with the support of four leading international advisory institutions, Allen & Overy, Heidrick & Struggles, McKinsey & Company and PricewaterhouseCoopers, and founder members, EmiratesNBD, Investcorp, SABIC and Saudi Aramco.

BDI is a community of several hundred board members from across GCC. Its creation reflects that Corporate Governance is a fundamental part of the societies of the region, as such, critical to the region economies.

In early 2009, BDI published the report "Building Better Boards". The report was the first study of its kind in the GCC on board effectiveness in the GCC and assesses the impact of the financial crisis on the implementation of best board governance practices in the region. In March 2011, the BDI published its second, now biennial, report"Embarking on a Journey".

BDI is also supported by the regional regulatory authorities including the Capital Market Authorities of both Saudi Arabia and Oman, the Central Bank of Bahrain (CBB), the Qatar Financial Centre Regulatory Authority (QFCMA) and the Securities and Commodities Authority (SCA) of the UAE.

For more information:
Mariana Missakian
Associate Director - Marketing and Communications
GCC Board Directors Institute
+971(04)3899-134
http://www.gccbdi.org

SOURCE The GCC Board Directors Institute (BDI)