I have conducted an interview with the Chief Financial Officer of Commercial Bank of Dubai, Mr. Thomas Pereira about the Corporate Social Responsibilities and organizational structure of the company which is stated below:-
Question
Q1 - Please let me know about Commercial Bank of Dubai
The bank has started the operation in 1969 by the patronage of His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum. CBD has started its operation as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait.
Q2 - What is the legal status of the company?
The company has been enlisted in 1982 in the Stock Market of Dubai. 80% of its shares are held by UAE Nationals; with the other 20% shares are held by Investment Corporation of Dubai …show more content…
The corporate structure of Commercial Bank of Dubai is that it is a public listed company in the National Stock Exchange of Dubai opening enough scope of capital mobilization and with the proper utilization of that capital, the bank has diversified its activities towards retail banking, SME Financing and Islamic banking with the addition of Sharia- compliant banking called Attijari Al-Islami which was launched in 2014.
Q6 - What is the advantage and disadvantage in your corporate structure?
The advantage of the present corporate structure is the ultimate of the corporate status of any company of its statute. The status of public limited company with its shares enlisted in any stock exchange has the enough power to go for diversification as per the Bard of Directors’ advise and endorsed by the top management. The disadvantage of this structure is that because of its huge volume of ownership, the aggressive decision may be held at times due to accountability of the Board of Directors to the shareholders of the company, which may at times restrict the performance of the company as desired by the Board and top …show more content…
CBD has taken up various programs under this domain in the forms of organizing the third CBD Youth Athletics Competition in 2013 and subsequently in 2014 and donated AED 2 million to fund “Dress one million Needy Children” campaign, signed the MOU with the Higher Colleges of technology to make the UAE nationals worth of financial career which made them proud receiving the Dubai Chamber of CSR Label in 2011. In my opinion, these activities are good enough but there are so many scopes related to this filed with raising awareness on different social domain like the Drive against Drug Trafficking, Youth Labor, and the demand for the awareness of mass education which really have direct contribution to the society in long run. When any organization takes steps in these fields, the state will directly be benefited by these activities and it proves to contribute in positive manner to the nation and the society with good name of corporate contribution to the country for enhancing the social level of the nation and escalation of the society as a
Question
Q1 - Please let me know about Commercial Bank of Dubai
The bank has started the operation in 1969 by the patronage of His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum. CBD has started its operation as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait.
Q2 - What is the legal status of the company?
The company has been enlisted in 1982 in the Stock Market of Dubai. 80% of its shares are held by UAE Nationals; with the other 20% shares are held by Investment Corporation of Dubai …show more content…
The corporate structure of Commercial Bank of Dubai is that it is a public listed company in the National Stock Exchange of Dubai opening enough scope of capital mobilization and with the proper utilization of that capital, the bank has diversified its activities towards retail banking, SME Financing and Islamic banking with the addition of Sharia- compliant banking called Attijari Al-Islami which was launched in 2014.
Q6 - What is the advantage and disadvantage in your corporate structure?
The advantage of the present corporate structure is the ultimate of the corporate status of any company of its statute. The status of public limited company with its shares enlisted in any stock exchange has the enough power to go for diversification as per the Bard of Directors’ advise and endorsed by the top management. The disadvantage of this structure is that because of its huge volume of ownership, the aggressive decision may be held at times due to accountability of the Board of Directors to the shareholders of the company, which may at times restrict the performance of the company as desired by the Board and top …show more content…
CBD has taken up various programs under this domain in the forms of organizing the third CBD Youth Athletics Competition in 2013 and subsequently in 2014 and donated AED 2 million to fund “Dress one million Needy Children” campaign, signed the MOU with the Higher Colleges of technology to make the UAE nationals worth of financial career which made them proud receiving the Dubai Chamber of CSR Label in 2011. In my opinion, these activities are good enough but there are so many scopes related to this filed with raising awareness on different social domain like the Drive against Drug Trafficking, Youth Labor, and the demand for the awareness of mass education which really have direct contribution to the society in long run. When any organization takes steps in these fields, the state will directly be benefited by these activities and it proves to contribute in positive manner to the nation and the society with good name of corporate contribution to the country for enhancing the social level of the nation and escalation of the society as a