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Posted On: 16 October 2011 12:24 pm
Updated On: 12 November 2020 02:11 pm

Doha Bank wins top award again

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Doha Bank has won the ‘Golden Peacock Global Award for Sustainability’ for the second year in a row. Doha Bank Group CEO R Seetharaman who delivered the key note speech on ‘Corporate Governance and Sustainability Challenges’, received the award from Mark Hoban, Financial Secretary to the Treasury in Britain, at Global Convention 2011 which incorporated the 11th International Conference on Corporate Governance and the second Global Summit on Sustainability organised by the World Council for Corporate Governance, UK and the Institute of Directors, (India) in London on Thursday. Coco-Cola (USA), Unilever (UK) and ONGC (India) were the other global organisations which won the award along with Doha Bank. Seetharaman said: “This clearly symbolises Doha Bank’s sustainable growth, its affinity towards social welfare and consciousness and the manner in which it has sustained its position as one of the leading banks in Qatar. “In addition to the sustainable growth in business, Doha Bank has been the prime mover in corporate social responsibility such as green banking, education and health benefits and involvement in social causes. Doha Bank’s functional model with economic, environmental and social initiatives, contributing towards the welfare of the public has always been a welcome approach towards a bright future.” Earlier at the Global Summit, Seetharaman highlighted the global economic scenario. “There is a lack of universal standards on governance and hence global governance is the need of the hour,” he said. “Global and corporate governance are intertwined to produce gross welfare to the masses. In the current economic scenario, advanced economies have not yet fully recovered and emerging economies’ growth is under threat. Sovereign downgrades have impacted global financial institutions. Significant swings in currencies were witnessed due to the crisis. The US is working on currency reforms against China. The currency war could translate into a trade war.” He also highlighted the measures taken at the G8 and G20 on financial sector reforms. The Financial Stability Board (FSB), IMF and the Bank for International Settlements (BIS) are working on macro-prudential policy frameworks, including tools to mitigate the impact of excessive capital flows. Policy framework for systemically important financial institutions is underway. Regulation and oversight of shadow banking is under development. The FSB and OECD are working on common principles on consumer protection and Risk disclosure practices on structured products, he said. The global financial architecture is undergoing a change with more powers being given to FSB’s resources and outreach. In line with Doha Bank’s Green Bank culture, it maintains a well defined Environmental Policy with the principles of “Reduce, reuse & re-cycle”. In recent years, Doha Bank has supported Qatar’s campaign on “Green Qatar Clean Qatar” drive, conducted seminars on global warming in Qatar, Dubai, Abu Dhabi, Oman, Kuwait, Turkey, Tokyo, Nagoya, Singapore, Chennai and Mumbai, initiated an environmental alliance with Unesco, developed dedicated ‘Green Bank’ website, launched environment-friendly and biodegradable Credit Cards, introduced paperless banking, formed Planet Savers Club, organised annual Al Dana Green Run and public awareness campaigns through ATMs, initiated the eco-School programme, tree planting, beach clean-up and recycling activities, Seetharaman said. In the recent past, Doha Bank had won awards such as “Bank of the Year 2011 in Qatar” by Arabian Business, “Best Commercial Bank in Qatar” from World Finance, and “World’s Best Trade Finance Provider in Qatar 2011” award from Global Finance. Doha Bank was also awarded the “Asia’s Best Brand” by the CMO Council. Gulf Times