The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, received two awards for its leading role in implementing a system to increase transparency.

HE Sultan Bin Saeed Al Mansouri, Minister of Economy and Chairman of the Securities and Commodities Authority (SCA), presented the Award to NBAD at Extensible Business Reporting Language (XBRL) conference. XBRL is a crucial international campaign to implement a systematic and efficient method to increase financial disclosures and transparency. This is the first time the conference has been held in the Middle East, which attracted 600 organisations from 50 countries.

NBAD received the Award in two of the six categories, for banks and for brokerage firms, the latter won by Abu Dhabi Financial Services, the wholly-owned brokerage subsidiary of NBAD.

“These awards confirm the National Bank of Abu Dhabi’s commitment to transparency and cooperation with the industry players in endeavours that benefit consumers,” said Abdulla M.S. AbdulRaheem, the Group Chief Operating Officer of NBAD. “As the Number one Bank in the UAE, NBAD must play a leading role in development of strategies that propel the UAE financial industry to the highest international standards.”

NBAD has been a recipient of more than a dozen awards and recognitions over the last year including the prestigious UAE Corporate Governance Award by Hawkamah, Institute of Corporate Governance.

Majd Maaitah, Senior Manager and Head of Issuer & Registrar Services at NBAD received the award on behalf of the bank.

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