Transcript
Hilal Al-Khulaifi is Group Chief Legal, Regulatory, and Corporate Governance Officer for Ooredoo Group, recognised by World Finance as having the Best Corporate Governance in Qatar for 2024. He discusses Ooredoo’s updated governance framework, its key features, and why corporate governance is so critical for Ooredoo Group – it’s not just about compliance, but rather a strategic pillar promoting trust with all its stakeholders.
Watch more videos from this interview: on Ooredoo’s ambitions for innovative and green telecoms, and how Ooredoo is working with international organisations to help advance telecoms standards and policies.
World Finance: Let’s start with corporate governance; why is it so crucial for Ooredoo Group, and why do you emphasise having a robust governance framework?
Hilal Al-Khulaifi: Corporate governance is essential for Ooredoo because it establishes a clear framework for accountability, transparency, and ethical decision-making.
Governance isn’t just about compliance, Paul – not at all. It is a strategic pillar that promotes trust with our stakeholders, including our shareholders, customers, and regulators.
Having a robust governance framework significantly enhances operational efficiency, mitigates risks, and promotes long-term sustainability.
This will ensure our commitment to ethical business conduct and maintains our reputation in the market.
World Finance: You recently introduced a new governance framework, uniting the whole group – all nine companies – under one structure; tell me more.
Hilal Al-Khulaifi: Absolutely. Our new governance framework, established by the Board’s Resolution No. (45) for the year 2024. This was based on the instruction from the board at that time to come out with a new and unique framework.
So it’s designed as a model system that applies uniformly across Ooredoo Group and all our operating companies globally.
It aligns seamlessly with international best practices while fully complying with local laws. This clarity and universal application prevent any lack or error and ensure consistency across our operations.
The framework not only enhances our internal processes but also supports our external communications and reporting, further strengthening trust and transparency with our stakeholders globally.
World Finance: What are some of the key features included in this governance framework?
Hilal Al-Khulaifi: The new governance framework includes several pivotal elements, such as clear definition of roles and responsibilities across all governance bodies; enhanced mechanisms for risk management and internal controls; structured processes for transparency, disclosure, and reporting, as I mentioned earlier.
We’ve also implemented a comprehensive compliance programme that aligns with international standards; mandatory periodic evaluations to ensure continuous improvement; explicit guidelines for ethical behaviour and corporate integrity; enhanced board oversight and thorough monitoring processes.
These components collectively establish a strong governance culture within the organization, enabling us to swiftly adapt to regulatory changes and market dynamics.
