The Institute of Directors Confers Dr. R. Seetharaman with the Title ‘Distinguished Fellow of IOD’

Last Updated: Fri, Feb 22, 2013 09:30 hrs

Dubai, United Arab Emirates:Dr. R.Seetharaman, the Group Chief Executive Officer of Doha Bank Group, the leading private commercial banking group in Qatar and GCC, has been awarded the prestigious “Distinguished Fellow of IOD”. This was awarded during the twenty third World Congress Leadership and Quality of Governance and Presentation of Golden Peacock awards ceremony which was hosted by Institute of Directors (IOD) held recently in Bangalore, India.

Earlier recipients of the award include Bharat Ratna Dr A.P.J Abdul Kalam, Naresh Goyal, Chairman , Jet airways, Rt. Hon. Baroness Verma, Parliamentary Under Secretary of State, Department of Energy & Climate Change, Govt. of UK and H.E Juma Al Majid , Chairman, Juma Al Majid Group, UAE.

On receiving the award Dr. R. Seetharaman said "I would like to thank the Awards Jury of the Institute of Directors for conferring this incredible honor on me. It is more than two decades since the institute of directors was established in India. They had begun with a focus on personal development of directors, however had soon embraced boardroom development as a whole and then organization wide transformation. They have developed a community of top executives worldwide who can lead the changes to a sustainable world. They work for the development of the directors to fulfill their leadership role in creating wealth and happiness of all stakeholders of the business enterprise and the society at large."

Dr. R. Seetharaman highlighted the current trends in global governance. He said "The Financial Services Regulators were not equipped to see the risk concentrations and flawed incentives behind the financial boom. Policy makers failed to gage the macroeconomic imbalances that brought about the systemic risks in the financial system and in housing markets. International financial institutions were not successful in achieving forceful cooperation at the international level. Financial economies are exotic when compared to real economies. Institutions, individuals who are living beyond their means or leveraging beyond capacity are passing on debts to children. Same applies to countries and corporates. Global financial crisis is an opportunity for real economies to prosper and financial economies to correct their values to become real and more ethical, so that the world becomes a better place."

Dr. R. Seetharaman gave insights on climate change. He said "Qatar had hosted the UN climate change conference in 2012. In recent times the United Nations environment agency has warned that the world “continues to speed down” an unsustainable path in spite of hundreds of internationally agreed goals to protect the planet, and stressed that drastic actions and big-scale measures are needed to reverse this pattern. The developed world will come out of recession only when the mighty engine of finance turns to the task of developing sustainable future .Private players can play a key role in climate change financing and hence there is a need to find ways of engaging new private investors, particularly institutional investors to help address the climate financing gap."

Dr. R. Seetharaman highlighted the key trends on sustainable development. He said "The United Nations Conference on Sustainable Development held in June 2012 came up with a proposition on new sustainable goals. Due to the recent financial crisis, a majority of the investors from all over the world have realized the need for sustainable finance. Green investments are what the investors are looking to buy. This demand has prompted several companies to start up new green projects to remain on par with this growing demand. The current realignment of global financial services industry will support the achievement of one of the eight UN millennium development goals “to develop a global partnership for development”, which aims to develop further an open, rule-based, predictable, non-discriminatory trading and financial system - Includes a commitment to good governance, development, and poverty reduction – both nationally and internationally. The current Millennium Development Goals (MDGs) have proved a great lever for tackling big global issues and can stimulate sustainable development."

About Doha Bank

Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar's leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

The Dubai branch of Doha Bank was opened in 2008.

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