UAE-based Hawkamah, the Institute for Corporate Governance, said it has signed an agreement with the Saudi Governance Centre will see them share information, training programs and research projects that will benefit companies and government organisations in both the countries.

The MoU was inked on the sidelines of the UAE–Saudi Business Forum being held at the Emirates Palace in Abu Dhabi.

Hawkamah, established in 2006, has been a key player affecting corporate governance in the region through providing companies and boards with practical tools on how to improve corporate governance.

The institute's work also involves engaging governments and industry, conducting surveys and studies, and creating regional benchmarks which often act as catalysts for reform.

CEO Dr Ashraf Gamal El Din said: "We look forward eagerly to our partnership with the Saudi Governance Centre which will see greater cooperation and shared resources between our two organisations."

"The UAE and Saudi Arabia already enjoy a very special relationship with shared values and ambitions, therefore uniting our governance organisations will stand to benefit private companies and government entities in both countries," noted El Din.

Loai Mousa, the CEO of Saudi Governance Center, said as the first organisation of its kind in the kingdom, the Saudi Governance Centre provides specialised consultative services on corporate governance and its applications.

"As a leading consultancy on corporate governance and international best regulatory practice, our agreement is set to raise the bar on governance region-wide," he added.-TradeArabia News Service