(MENAFN - Muscat Daily) The Oman Centre for Corporate Governance (OCCG) of the Capital Market Authority (CMA) announced winners of the third Corporate Governance Excellence Awards on Tuesday.
Under the patronage of H E Yahya Said al Jabri, chairman of the Board of Directors of Duqm Special Economic Zone, and chairman of the Board of Directors of CMA, the winners were awarded for excellence in banking, finance, service and insurance, and industrial sectors.
The ceremony was held in the presence of a number of excellencies, businessmen and chairpersons of public joint stock companies, insurance companies and companies operating in securities market.
The competition aims at encouraging the companies to apply best corporate governance practices. The three sectors represented were banking and finance, industry, and the services and insurance.
Sayyid Hamid Sultan al Busaidy, senior director of OCCG said, ''The competition helps in creating awareness on the benefits of applying best corporate practices, encouraging them to create competitive environment and enhancing investor confidence to support the national economy.''
OCCG organises this competition to encourage companies to compete in the fiercely competitive global market and to improve business environment in the sultanate.
Al Ahlia Insurance Co received the award for best performance across all sectors.
3) National Bank of Oman
1) Muscat Finance
2) Oman Investment and Finance Co
Services & insurance sector
1) Al Ahlia Insurance Co
2) Shell Oman Marketing Co
3) Electricity Holding Co
1) Oman Fisheries Co
2) Sohar Power Company
3) National Aluminium Products Co