OREANDA-NEWS. The Saudi Basic Industries Corporation (SABIC) sponsored the GCC Board Directors Institute (BDI) workshop on Corporate Governance and Board Effectiveness Practices in Riyadh from February 25 to 27 in the strong belief that corporate boards can demonstrate effective and proactive leadership, particularly under today’s challenging economic conditions.

The overall goal of BDI is to support better corporate governance, primarily through building board member capabilities. SABIC is a founding corporate partner of the BDI.

Mutlaq Al-Morished, Executive Vice President, SABIC Corporate Finance, who inaugurated the workshop, commented, “These workshops provide an excellent platform for a healthy dialogue on contemporary issues and challenges that boards in the GCC face. We gained much from each other’s knowledge and experience for bringing about possible improvements in corporate performance.”

This was the third workshop hosted by SABIC and the 14th of its kind since BDI’s inception in 2007. It brought together senior directors from leading corporate entities and institutions in the region to share knowledge, experiences and best corporate practices.

The BDI is an initiative launched by a combination of large corporations and professional advisory firms. It counts over 350 members who are senior leaders and board members of flagship companies across the GCC.

SABIC has been constantly building and improving its corporate governance processes by building its capabilities and encouraging best practices throughout the company, and ensuring that world class controls and compliance processes are in place.