The Directors’ Training Program (DTP), hosted by the Center for Executive Education (CEE) at the Institute of Business Administration (IBA) Karachi, is a premier initiative aimed at enhancing the skills and knowledge of board members and directors of listed companies. This program is particularly significant in Pakistan, where formal corporate governance standards are increasingly emphasized. The DTP not only provides essential training but also aligns with regulatory requirements set forth by the Securities and Exchange Commission of Pakistan (SECP).
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Objectives and Structure of the Program
The primary objective of the DTP is to equip directors with the necessary tools to navigate the complexities of corporate governance. The program consists of two comprehensive modules that cover essential regulatory knowledge and broad subject matter awareness expected of directors. This structure ensures that participants remain updated on leading trends and practices that promote good governance, protect competitive advantages, and prepare for regulatory changes.
Key Features:
- Duration: The program typically spans five days, with sessions running from 9:00 AM to 5:00 PM.
- Modules: Each module focuses on critical areas such as board ethical obligations, performance evaluation, strategy formulation, risk management, and corporate reporting.
- Certification: Successful completion of the program leads to certification recognized by both SECP and the Chartered Management Institute (CMI), UK.
Curriculum Highlights
The curriculum is designed by subject matter experts and includes a variety of topics crucial for effective governance. Some key components include:
- Board Ethical Obligations: Understanding the ethical responsibilities of directors.
- Performance Evaluation and Remuneration: Techniques for assessing board performance and establishing remuneration policies.
- Board Strategy: Developing strategic insights for navigating economic challenges.
- Risk Management: Identifying and mitigating risks at the board level.
- Corporate Reporting: Best practices in financial reporting and transparency.
Notable Instructors
The program features an esteemed panel of instructors who bring extensive experience in corporate governance. Among them are:
- Dr. Ishrat Husain: Former Advisor to the Prime Minister on Institutional Reforms and Austerity, who has served as Dean at IBA Karachi.
- Rahat Aziz: A leading trainer in corporate governance with a rich background in conducting board orientation programs for major corporations in Pakistan.
- Other faculty members from IBA include Dr. Huma Baqai, Mahreen Nazar, and several industry practitioners.
Target Audience
The DTP is specifically tailored for directors of listed companies, public sector organizations, and not-for-profit institutions. Given the evolving landscape of corporate governance in Pakistan, this program is essential for those seeking to fulfill their regulatory obligations while enhancing their leadership capabilities.
Importance of Corporate Governance in Pakistan
Pakistan has been proactive in establishing formal corporate governance frameworks. The introduction of mandatory training programs like the DTP reflects a commitment to improving governance standards across various sectors. As organizations face increasing scrutiny from regulators and stakeholders alike, having well-trained directors is vital for fostering accountability and transparency.
Feedback from Participants
Participants have consistently praised the DTP for its comprehensive approach to corporate governance training. Feedback highlights include:
- Practical Insights: Many attendees appreciate the real-world applications discussed during sessions.
- Networking Opportunities: The program facilitates connections among professionals from diverse industries, enriching the learning experience.
- Skill Enhancement: Graduates report improved confidence in their roles as directors, equipped with updated knowledge and best practices.
Future Programs
The DTP is offered multiple times throughout the year, with upcoming sessions scheduled for various dates in 2024-25. This ensures ongoing access to training for new directors entering the field or existing directors seeking refresher courses.
Conclusion
The Directors’ Training Program at IBA Karachi stands out as a critical initiative for enhancing corporate governance in Pakistan. By providing essential training aligned with international standards, it plays a pivotal role in preparing directors to meet contemporary challenges in governance. As businesses navigate an increasingly complex regulatory environment, programs like the DTP are indispensable for fostering effective leadership and ensuring compliance with best practices.
