On January 17, 2022 Ali Bin Ali Legal Department announced the launch of its autonomous and reinvigorated Governance, Risk, and Compliance (GRC) unit that will manage risks and ensure compliance of business requirements and government regulations. The evening event, held at W Hotel Doha, was attended by more than 100 ABA executives from across 18 business streams of the conglomerate.
In his maiden speech, ABA Vice President/General Counsel, Mr. Nabil Chamas, pointed to the fundamental significance of the GRC unit within ABA Holding as a support unit that would safeguard the company’s identity, its employees and consumers. Mr. Chamas noted that the world’s risk and compliance landscape is more complex than ever before, hence the need for the ABA Legal Department to introduce new policies and regulations, and modify existing ones so as to protect the company’s interest. “By implementing the GRC component, our company can make better decisions in a risk-aware environment. Our sustainable and yet effective approach towards GRC will help us and our stakeholders set guidelines and comply with requirements both at the national and international level,” Mr. Chamas stated.
It was noted in the meeting that the creation of the GRC unit came at an opportune moment when ABA Holding was rapidly expanding its functions and operations in the Middle East and across the globe. Key topics such as the importance of governance and cybersecurity; data protection; addressing risk and risk environments; and compliance practices were discussed by the notable staff and lawyers of the ABA Legal Department including: Mr. Benjamin Anafi, Ms. Janaina De Queiroz, Ms. Mahassen Al Taki, and Mr. Jean Michel.
The legal department, through Ms. Sarolta Kacso and Ms. Amina El Zein, proposed launching an App – App4Legal – that would help track and manage the entire life cycle of the company’s contracts, litigation, and corporate matters, thereby minimizing the company’s risk posture. The App is set to enhance efficiency in ABA’s workflow where every task can be organized, automated and streamlined.
To conclude the event, a plenary discussion was opened for participants to share their opinions, experiences and how to better implement the GRC program in their daily practices. As a follow-up to the conference, the GRC support unit will conduct trainings to enable employees better understand the GRC and App4Legal.