The Investment Corporation of Dubai (ICD) has called on companies with a presence in Dubai to adhere to the highest standards of corporate governance.
Speaking today (May 28th) at the inaugural ICD Finance Conference: Risk and Corporate Governance event Mohammed Ibrahim Al Shaibani, executive director and chief executive officer of the corporation, said that it was more important than ever to promote business excellence.
"There is a clear correlation between good governance, investor confidence and corporate profitability. Embracing global best practices will therefore continue to yield clear benefits for all the companies represented here today," he said.
More than 150 companies were in attendance at the event, including representatives of the UAE property market, the aviation sector, telecoms firms and global investment houses.
In August last year, Mr Al Shaibani announced that best practice in corporate governance would be key to Dubai's ongoing success across all sectors of the economy, including UAE property and finance.