Bin Hindi inks contract for corporate assistance
Manama, April 8, 2013
A A Bin Hindi Group, a leading supplier of automobiles, IT products and construction equipment in Bahrain, has signed a contract with Orient Middle East (OME) Advisory for assistance in its family and corporate governance project, said a report.
Under the project, the group is seeking to establish a system and rules that will govern the rights, duties and responsibilities of family members in the business, reported the Gulf Daily News, our sister publication.
A leading supplier of automobiles, IT products and construction equipment in Bahrain, A A Bin Hindi Group had last month set up an elected council within the family.
OME Advisory's team consisting of experts in governance matters will assist the Bin Hindi family in the design of their family governance structures and corporate governance system.
"We are happy about the outcome of the work being carried out by OME Advisory - this was long overdue," said the Group president and chief executive Ahmed A Bin Hindi, who is also the chairman of the Bahrain Businessmen's Association.
"We are now in the final implementation stages and things are progressing well," he observed.
The project will also develop a corporate governance framework to assist in board-level matters.
"I am confident that this landmark project marks the beginning of a healthy family and corporate governance culture in Bahrain and the wider Middle East, which has a significant number of large family-owned corporates critical to the regional economies," OME Advisory CEO Abdulla M Arahma said.
OME Advisory is a business and investment advisory firm operating from the Bahrain Financial Harbour and serving the GCC market including Bahrain, Saudi Arabia, Kuwait, Qatar and Oman.-TradeArabia News Service