Hawkamah Institute for Corporate Governance

What Hawkamah Institute for Corporate Governance does

Hawkamah Institute for Corporate Governance is a non-profit corporate governance institute headquartered in the Dubai International Financial Centre (DIFC), United Arab Emirates, founded in 2006 by international organizations (OECD, IFC, World Bank) and regional bodies (Union of Arab Banks, DIFC Authority). The institute delivers training, advisory, certification, and research services across the MENA region, targeting listed companies, state-owned enterprises, family-owned businesses, banks and financial institutions, group companies, SMEs, regulators, and individual governance professionals.

Its core product suite includes the four-part Director Development Program (DDP) leading to Professional Directors Certification, the Certified Board Secretary Workshop (CBSW) mandated by Dubai Financial Market for all DFM-listed companies since 2017, and proprietary digital tools such as the Thinking Board Evaluator and Board Progression Matrix for board effectiveness assessments. Adjacent offerings include tailored workshops, sectoral advisory services (covering SOEs, family governance, banks, and Islamic finance), corporate governance assessments, and ESG index services delivered in partnership with S&P Dow Jones Indices (S&P/Hawkamah ESG Pan Arab Index and S&P/Hawkamah ESG UAE Index).

The business model combines subscription-based individual and corporate memberships (USD 1,050/year for new individuals; USD 500 renewal), professional-services fees for the DDP and CBSW programs, project-based advisory engagements, and event/conference revenue. Distribution occurs through open-enrollment training, bespoke corporate workshops, regulatory-mandated training partnerships, advisory consulting, and membership-based access to events, publications, and board appointment services. As of May 2023, 190 board secretaries and 170 directors had been certified through Hawkamah's programs.

Name

Hawkamah Institute for Corporate Governance

Legal name

Hawkamah Institute for Corporate Governance

Website

https://hawkamah.org

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

Hawkamah Institute for Corporate Governance is a Dubai-based non-profit institute, founded in 2006 and owned by DIFC Authority, that delivers corporate governance training, certification, and advisory services to listed companies, SOEs, family businesses, banks, and regulators across the MENA region.

Ownership category

akta.pro rank

Product category

Corporate Governance Advisory and Training

akta.pro primary industry

Governance & Board Effectiveness Advisory (BPAHAFAC)

akta.pro secondary industries

ESG Governance, Sustainability Reporting & Assurance Advisory (BPAHAFAJ), ESG Data Platforms, Controls & Audit Readiness (Data quality, internal controls) (EUAHAJAN), ESG Reporting, Disclosure & Regulatory Compliance (SFDR, EU Taxonomy, TCFD/ISSB) (FSAAALAK)

Keywords

• Corporate governance training
• Board evaluation services
• Director certification programs
• ESG index advisory
• Governance consulting

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Individual Membership: Annual membership fee providing access to networking opportunities, professional development programs, governance forums, research studies, reports, surveys, advisory services, and event invitations at reduced prices. Includes board appointment service.
2. Corporate Membership: Annual membership for organizations including board briefings, board effectiveness sessions, corporate governance assessments, director development program access, certified board secretary workshops, international benchmarking visits, and tailored training.
3. Director Development Program: Four-part flagship training program with certification. Participants pay full price for all four parts and are eligible for free one-year membership. Optional online assessment for Professional Directorship Certificate with 80% pass requirement.
4. Certified Board Secretary Workshop: Three-day workshop on board secretarial fundamentals plus two-day advanced workshop. Optional online exam for certification. Supported by International Corporate Governance Network (ICGN). Mandatory for DFM-listed companies.
5. Advisory and Consulting Services: Tailored corporate governance advisory services delivered in English and Arabic to governments, companies, and boards across MENASA region. Includes governance assessments, board evaluations, framework development, and policy advisory.
6. Tailored Workshops: Custom-designed workshops for organizations, boards, and individuals delivered to facilitate strategic decision-making and compliance understanding.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Hawkamah delivers corporate governance capacity building through flagship training and certification programs (Director Development Program and Certified Board Secretary Workshop), tailored advisory engagements for boards and senior management, and bespoke governance assessments for listed companies, state-owned enterprises, family businesses, banks and regulators. It complements these services with proprietary ESG indices developed with S&P Dow Jones Indices and digital board evaluation tools. All offerings are delivered in English and Arabic across the MENA region from its DIFC headquarters in Dubai.

Product overview

Hawkamah Institute for Corporate Governance is a world-class corporate governance institute offering a comprehensive suite of training, advisory, and certification products and services. The core offerings include the Director Development Program (DDP) - a four-part training curriculum leading to Professional Directorship Certification, and the Certified Board Secretary Workshop (CBSW) - mandatory for DFM listed companies. These are complemented by specialized programs, tailored workshops for organizations and senior management, and sector-specific services for Listed Companies, Banks, Family Businesses, and State-Owned Enterprises. The institute also provides Board Services including the proprietary Thinking Board® Evaluator for digital board evaluations, Advisory Services for governance assessments and policy development, and ESG Index Services including the S&P/Hawkamah ESG Pan Arab Index. Membership programs (Individual and Corporate) provide ongoing access to networking, training, and board appointment services. Events programs including Chairman's Majlis, IMF Round Tables, Webinars, and the Family Governance Initiative support continuous professional development in the governance field.

Differentiator

Problem solved

Functional benefit

Brands

• Director Development Program (DDP): Flagship program laying the foundation for capacity building, educating current and aspiring board members and governance professionals.
• Certified Board Secretary Workshop (CBSW)
• S&P/Hawkamah ESG Pan Arab Index
• S&P/Hawkamah ESG UAE Index
• Thinking Board Evaluator
• Family Governance Dynamics Initiative
• Chairman's Majlis
• Climate Governance Initiative (CGI) Chapter

Products and services

• Director Development Program (DDP) A flagship four-part training and certification program designed for current and aspiring board members and governance professionals. It covers corporate governance fundamentals, board roles and responsibilities, strategic leadership and financial stewardship, and leads to the Professional Directorship Certificate for participants who pass an 80% threshold self-assessment exam.
• Certified Board Secretary Workshop (CBSW) A continuous learning workshop for appointed and aspiring company secretaries and compliance professionals, comprising a three-day fundamentals module and a two-day advanced module with optional online certification exam. The workshop is mandatory for board secretaries of all Dubai Financial Market-listed companies and is supported by the ICGN.
• Advisory Services Bespoke corporate governance advisory delivered to State-Owned Enterprises, families, listed companies, banks and financial institutions, Islamic finance institutions, group companies, regulators and individual companies across the MENASA region in English and Arabic. Includes governance assessments, board evaluations, framework design and policy advisory.
• Board Evaluation Services Comprehensive board effectiveness services including digital board evaluation through the proprietary Thinking Board® Evaluator system, board briefings, board appointment service and Board Progression Matrix improvement planning for boards and directors.
• Individual Membership Annual subscription membership for governance professionals providing access to networking opportunities, professional development programs, governance forums, research studies, reports, surveys, advisory services, event invitations at reduced prices, and a board appointment service.
• Corporate Membership Annual corporate membership for organizations providing board briefings, board effectiveness sessions, corporate governance assessments, Director Development Program access, Certified Board Secretary Workshops, international benchmarking visits and tailored training.
• S&P/Hawkamah ESG Pan Arab Index Proprietary ESG benchmark index measuring the performance of the 50 best-performing stocks across the MENA region based on environmental, social and governance factors. Developed in cooperation with S&P Dow Jones Indices with IFC support, it was the first ESG index for the MENA region.
• S&P/Hawkamah ESG UAE Index Proprietary ESG benchmark index launched in April 2020 with S&P Dow Jones Indices, reflecting the performance of 20 of the best-performing stocks in the UAE by ESG factors.

Quantifiable outcome

• Companies with strong corporate governance practices are 29% more efficient at generating profits
• +2 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered core, founding, preferred and minor.

• ICGN (International Corporate Governance Network)coreStrategic or Co-development Partner · 1 January 2023Annual ICGN-Hawkamah Conference partnership. Hawamah's Certified Board Secretary certification supported by ICGN. ICGN members manage approximately $77 trillion in assets.
• Dubai Financial Market (DFM)coreChannel Partner/ Reseller/ Distributor · 1 January 2017DFM mandated Hawamah's Certified Board Secretary Workshop for all DFM-listed companies since 2017, requiring board secretaries to obtain certification.
• International Monetary Fund (IMF)coreStrategic or Co-development Partner · 1 January 2013Ongoing partnership organizing Central Bank Governance Forum series. 8th High-Level Forum held in Dubai 2024 with 100+ central bankers from 40 countries.
• S&P Dow Jones IndicescoreStrategic or Co-development Partner · 1 January 2011Launched S&P/Hawkamah ESG Pan Arab Index in 2011 measuring 50 best-performing MENA stocks by ESG factors. Also launched S&P/Hawkamah ESG UAE Index in 2020 covering 20 UAE stocks.
• OECD (Organisation for Economic Co-operation and Development)foundingStrategic or Co-development Partner · 1 January 2006Founding partner of Hawamah in 2006. OECD supports corporate governance development in MENA through task forces, policy briefs on banking governance, and Southeast Asia Corporate Governance Initiative.
• IFC (International Finance Corporation)foundingStrategic or Co-development Partner · 1 January 2006Founding partner of Hawamah in 2006. Part of World Bank Group focused on private sector development and corporate governance support in emerging markets.
• World BankfoundingStrategic or Co-development Partner · 1 January 2006Founding partner of Hawamah in 2006. Supports insolvency reform and corporate governance development initiatives in MENA region.
• Union of Arab BanksfoundingStrategic or Co-development Partner · 1 January 2006Founding partner of Hawamah in 2006. Regional banking association supporting governance development in Arab financial sector.
• Dubai International Financial Centre (DIFC) AuthorityfoundingStrategic or Co-development Partner · 1 January 2006Hawkamah is owned by DIFC Authority. Provides headquarters in DIFC and institutional support for governance institute operations in Dubai.
• Independent AuditpreferredTechnology or IntegrationPartnership with UK's leading board evaluation consultants providing Thinking Board Evaluator digital board evaluation system for regional clients.
• INSOL InternationalfoundingStrategic or Co-development PartnerFounding member of FIRM (Forum For Insolvency Reform in MENA) established 2010. Supports judicial colloquia and insolvency reform dialogue.
• First Abu Dhabi Bank (FAB)minorOthersCorporate partner and member supporting Hawamah initiatives.
• Dubai ChambersminorOthersCorporate partner and member supporting governance initiatives.
• Nasdaq DubaiminorChannel Partner/ Reseller/ DistributorCorporate partner with governance solutions and marketplace presence.
• Bank of SharjahminorOthersCorporate partner and member in banking sector.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Spencer Stuart: Global executive search and board-advisory firm whose Board Practice directly competes with Hawkamah's advisory, board-evaluation, and director-development services for the same MENA enterprise clients.
• Heidrick & Struggles: Global leadership advisory and executive search firm with a strong governance and board-services practice — comparable at the advisory layer for board effectiveness, succession, and governance assessments.

Direct peers

• Pearl Initiative: GCC-based nonprofit promoting corporate governance, accountability, and transparency among regional businesses — comparable as a regional peer with overlapping board education and corporate-leadership programs.
• National Association of Corporate Directors (NACD): US-based nonprofit membership association for corporate directors offering director education, certification, and board resources — the closest direct analog to Hawkamah's certification, training, and board-services model.
• International Corporate Governance Network (ICGN): Global governance network whose members manage ~$77T in assets; Hawkamah partners with ICGN for its annual conference and certification support, making it both a peer and partner.
• Institute of Corporate Directors (ICD): Canada's national nonprofit body for directors offering the ICD.D designation and governance education — directly comparable to Hawkamah's Professional Directorship certification and DDP curriculum.
• INSEAD Corporate Governance Centre: INSEAD's governance research and executive-education arm offering director and board-effectiveness programs globally — comparable for high-end governance training, research, and advisory.
• Corporate Governance Institute (UK & Ireland): UK/Irish governance qualification body offering certificates and diplomas for company secretaries and directors; comparable to Hawkamah's CBSW and DDP stack in scope and target buyer.
• The Chartered Governance Institute (CGI): UK-rooted global qualifying body for company secretaries and governance professionals; directly comparable for board-secretary certification, training, and governance qualifications like Hawkamah's CBSW.

Regional players

• GCC Board Directors Institute: Regional industry initiative focused on GCC board-director development and governance capacity building; conceptually adjacent to Hawkamah's DDP and family-governance work but operating across the wider Gulf rather than exclusively MENA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hawkamah-institute-for-governance

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hawkamah Institute for Corporate Governance