The Pearl Initiative, PI, an independent non-profit organisation, has signed a Memorandum of Engagement, MoE, with ENOC Group highlighting its commitment to enhancing corporate responsibility and transparency in the region.
Through this partnership, PI and ENOC seek to gain advantage from each other’s experience in the area of corporate governance, commit to jointly promoting ethical behaviour and business practices including transparency and accountability in addition to investing in initiatives that stimulate social entrepreneurship in different markets.
Saif Humaid Al Falasi, Group CEO, ENOC, said, "We are deeply committed to integrating corporate governance across our business. We are happy to engage in Pearl Initiative’s activities to promote ethical behaviour and advocate for corporate accountability and transparency as we understand the crucial role these values play in today’s fast-moving market conditions. We look forward to utilising Pearl Initiative’s resources to benefit our business stakeholders in adopting qualitative goals and best practices."
Commenting on the agreement, Yasmine Omari, Executive Director at the Pearl Initiative, said, "We are excited to be working side-by-side with ENOC, an important player in the oil and gas sector globally and are recognised for their values towards responsible business practices. ENOC’s commitment to supporting our vision will contribute to the expansion of our reach, highlighting the significance of a corporate culture of accountability and transparency as a key driver for business sustainability."
Founded in 2010, the Pearl Initiative develops regional programmes and publishes research reports and case studies to encourage regional businesses and student communities to implement higher standards of corporate governance throughout the Gulf Region