PricewaterhouseCoopers signs sponsorship agreement with Hawkamah to promote Corporate Governance in the MENA region

8 August, 2007
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PricewaterhouseCoopers (PwC), a world leader in providing industry focused assurance, tax and advisory services, announced today that it has signed a three-year corporate sponsorship agreement with the Hawkamah Institute for Corporate Governance (Hawkamah) to support the promotion of better corporate governance standards and practice across the Middle East.

This alliance allows Hawkamah to access and utilize PwC’s vast global resources, in terms of experts and research, and represents another significant step towards achieving Hawkamah’s strategic objectives of raising awareness and further advancing corporate governance in the region.
Dr. Nasser Saidi, Executive Director of Hawkamah said: “The decision by PricewaterhouseCoopers to become a founding member and corporate sponsor of Hawkamah demonstrates their confidence in our initiative and highlights the importance of international corporate support. The practical expertise and wealth of knowledge that they will contribute is invaluable, since PwC is widely recognized as a leader in promoting sound corporate governance and best practices worldwide. With this partnership in place, Hawkamah and PwC will be able to work together effectively to help in the development and implementation of good corporate governance policies in the region, and specifically in the banking and financial sector we have already initiated our joint work through PwC’s support of the Hawkamah World Bank insolvency task force for the MENA region .”
Michael Stevenson, Senior Partner, Middle East Region, PwC, said: “In order to continue our efforts to encourage the advancement of corporate governance in the Middle East, our association with Hawkamah is a perfectly logical choice. The presence of Sam DiPiazza, PwC’s Global CEO, during the signing ceremony shows the importance that PwC is giving to this relationship.  We are ready to provide the necessary resources and support needed to enhance the existing regulatory framework, encompassing transparency, accountability, fairness and disclosure, which, combined, are the cornerstones of sound corporate governance. PwC has always been a leader in promoting corporate best practices worldwide and now, with this alliance, we will have the opportunity to bring our international experience and channel it to the benefit of the local and regional markets.”
The Hawkamah Institute for Corporate Governance is an international association of corporate governance practitioners, regulators and institutions whose primary mandate is to develop corporate governance best practices in the Middle East region. By promoting the core values of transparency, accountability, fairness, disclosure and responsibility, Hawkamah assists countries and companies in the region to develop and implement sound and globally integrated corporate governance frameworks.
PricewaterhouseCoopers provides industry-focused services in the fields of audit and assurance, tax, human resources, transactions, performance improvement and crisis management. With over 140,000 employees in 149 countries, PwC works with public and private clients in 22 specialized practices, focusing on sound governance and transparency to provide solutions in businesses and capital markets across the world.

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