Karachi: HBL has been awarded the coveted ‘Best Board of the Year’ by the Pakistan Institute of Corporate Governance (PICG), in recognition of its exemplary leadership, strong governance, and strategic oversight. The award highlights HBL’s continued commitment to excellence in corporate governance and responsible business practices.
The accolade was presented to Aamir Irshad, Acting President & CEO of HBL, on behalf of the bank’s Board of Directors during the PICG Awards ceremony, held at the Movenpick Hotel in Karachi. Senior officials of the bank were also in attendance to celebrate this significant achievement.
In announcing the award, PICG emphasized that the ‘Best Board of the Year’ title was based on HBL’s outstanding performance in achieving the highest Board Strategic Performance Index (BSPI). The bank was further recognized for its efficient and timely board evaluation process, completed in close collaboration with its management team.
The HBL Board set a new standard with the most prompt completion of the evaluation process following the financial year-end and held in-depth discussions with PICG’s management to outline future strategies.
This honor underscores HBL’s unwavering dedication to maintaining high standards of governance and driving responsible corporate growth.
About Pakistan Institute of Corporate Governance (PICG):
Pakistan Institute of Corporate Governance was established as a public-private partnership following a memorandum of understanding (MOU) signed between two apex regulators, the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP), and 18 private sector institutions. PICG was set up on December 01, 2004, the same year the Organization for Economic Cooperation and Development (OECD) released a revised version of its first set of corporate governance principles developed in 1999 to help OECD and non-OECD governments in their efforts to create legal and regulatory frameworks to promote corporate governance in their countries.
PICG embarked on its journey to inculcate the six OECD principles of effective corporate governance in the corporate ecosystem in Pakistan. Our flagship program, the Director Training Program (DTP), commenced with IFC’s technical support in February 2007, and was a huge leap forward in inculcating a culture of good governance in Pakistan. The program completes the 40 hour training requirement outlined by the SECP. The Directors Orientation Workshop is a subsidiary program of the DTP.
In December 2021, PICG completed 17 years as the premier corporate governance institute in Pakistan. In the decade and a half, PICG has established its presence in the country as the Institute which has gone from strength to strength. With current membership of over 150 corporates and individuals, and over 1,400 certified directors, PICG has achieved significant outcomes for our members and the wider business community in Pakistan by assisting with the development of an ecosystem of organizations that are committed to good governance. Our endeavor is to engage the Board and the C-suite as well as the business and finance community at large, through a continuous strategy to provide lifelong learning, and more specifically continuing professional education.
