Bank Muscat, IMD join forces for best practices in banking sector

Muscat: Bank Muscat, the flagship financial services provider in the Sultanate, in partnership with the International Institute for Management Development (IMD) from Switzerland, one of the leading international business schools, organised a workshop on Corporate Governances Best Practices attended by members of the Board of Directors led by Sheikh Khalid bin Mustahail Al Mashani, chairman.
The bespoke programme provided the bank’s directors with an overview of latest developments in the best practices of business and corporate governance in the banking sector and approaches to enhance board effectiveness. The workshop focused on the board's oversight role in a wide range of areas such as strategy, digital trends in the banking sector and sustainability. The session held as part of the annual Board of Directors’ development programme covered topics, including what makes great boards, how does the board ensure strategic success, shareholder activism, conflicts of interest, organisational value creation, Blockchain and latest trends in digital banking, using Fintech to enhance risk management and efficacy, sustainability and corporate social responsibility to create a sustainable society.
Al Mashani said: “I am delighted to have led the Board of Directors in this programme which provided fresh insights on strategic growth and long-term value creation for the bank. The programme focused on strategies to enhance the board’s ability to lead, challenge and guide the bank to a sustainable future. The programme was perfectly aligned with the strategic goals of Bank Muscat and had a direct and tangible impact on its business alongside the country’s economic prosperity.”
The Board of Directors’ development programme is part of a regular ongoing effort to familiarise the Board members with new insights of innovation, motivation and value creation through transformational learning experiences that support them in creating real impact for the bank’s growth and development. The initiative helps the Board leadership to make strategic decisions complementing the economic development in the country.
IMD stands out as a world leader and pioneer in corporate leadership development. The IMD Global Board Centre is a leading board training provider and standards setter for Board Development. Working together with top organizations worldwide, IMD brings insights, tools and mindsets that help the organization deal with its real issues and challenges to enhance learning and create positive business impact.