The Pearl Initiative, a business-led non-profit organisation promoting corporate transparency and accountability in the Gulf Region, held its first meeting following the appointment of its new Board of Governors earlier in August.

Offering synergetic capabilities and expertise across multiple regional industries, the new board will support the Pearl Initiative in maximising its impact on the regional economy by ensuring the sound execution of its organisational strategy and annual agenda.

Composed of 16 members with representation from across the Gulf Region, the Pearl Initiative’s Board of Governors includes Mathad Al Ajmi, general manager and chief counsel, SABIC; Patrick Chalhoub, co-CEO, Chalhoub Group; Jamal Fakhro, managing partner, KPMG; Bashar Obeid, CEO, Aramex; Ayman Tamer, chairman and managing partner, Tamer Group; Hamid Jafar, chairman, Crescent Group; Badr Jafar, CEO, Crescent Enterprises; Hani Ashkar, Middle East senior partner, PricewaterhouseCoopers; and Samer Khoury, president, Consolidated Construction Company.

The regional diversity of the board reflects the recognition that business accountability is, and should remain, a multi-sectoral and multi-national enterprise for sustainable economic growth in the Gulf Region.

As part of its own commitment to advancing corporate accountability and transparency, the Pearl Initiative holds quarterly board meetings to approve the organisation’s strategy and business plan, annual budget and annual programme plan.

As part of the 2019 programme plans, the Board approved the scale-up of ongoing programmes, including the Anti-Corruption Best Practice programme, Diversity in Business Leadership, Corporate Governance in MSMEs, Corporate Governance in the Tech Industry, and the Governance in the Philanthropic and Non-Profit ecosystem programme.

The re-launch of the Corporate Governance in Family Firms programme was also decided, with a particular focus on succession planning and the role of next generation members in a family business context.

The Pearl Initiative’s future plans are geared towards realising a broad spectrum of positive developments in corporate governance practices as it looks to build on its current programmes and inspire change, further increasing its impact.

The next meeting of the Pearl Initiative Board will be held on March 14 in Bahrain. – TradeArabia News Service