(Manama) – “Regulators are most concerned with financial stability. As their perception of risk taking by financial institutions rises, so will their demands for greater controls,” said Dr. Nabil El-Hage.
Corporate governance expert and former professor at Harvard Business School, Dr. El-Hage was presenting at the 6th Corporate Governance (CG) workshop organised by the Waqf Fund. 23 CEOs and board members of Waqf Fund member institutions attended the session. He presented three cases of compliance failure, corporate fraud and tightening regulations due to Basel III. These included a global systemically important bank, an emerging market bank and a US-based family owned company. He highlighted the growing importance of regulatory compliance in the banking industry and the need for board members to be extra vigilant in this regard.
