Chief legal and governance officer | Sohar International Bank SAOG
Elsamawal A. Idris
Chief legal and governance officer | Sohar International Bank SAOG
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
Understating the nature of the crises or area of instability and assessing their possible risks to the organisation overall are the key pillars in deciding any approach, be it legal or otherwise. Once this is dealt with, crafting the approach will be dependent on the nature of these risks in the order of organisational priorities. The contribution of a general counsel to these is normally not limited to the legal aspects, but also to influencing and offering guidance on broader organisational approach to these crises and instabilities.
For the general counsel to align legal strategy with business strategy, they have to start with fully understanding the latter and the business dynamics and landscape. This will help in determining areas where legal activities should be focused and in setting up clear legal objectives that emanate from, and align with business objectives, and help with allocation of resources and crafting SMART KPIs.
What are the main cases or transactions that you have been involved in recently?
Having led and completed a landmark merger between of HSBC Bank Oman SAOG with and into Sohar International Bank SAOG effective August 2023, we have been actively working on the ensuring a smooth business and people’s integration within the bigger bank. This involved a lot of legal activities in many areas, including HR, litigation, credit documentation, among others.
The legal team has also been doing a lot to support our first overseas branch in Riyadh- KSA, inaugurated in January 2024. The efforts have been massive from inception, through to getting the licenses, and leading to commencement of operations and thereafter. These activities are indeed in addition to the normal activities that the legal team handles while supporting the bank’s strategy and running the business.
What is a topic of business (or otherwise) that you are passionate about?
Although there is enough evidence confirming that implementing good corporate governance practices leads to better organisational performance. I find it quite interesting that not enough attention is being paid to this matter at times by organisations. Particularly, I find it interesting how corporate governance can be overlooked despite of its importance for strategic decision-making, be it in terms of the ‘independence’ that is required for provision of objective views needed for formulation of the corporate’s business strategy, building its culture, for establishing transparency of financial reporting ..etc, or for the successful implementation of the strategy itself.
Chief legal officer | Sohar International Bank - SAOG
Assistant general manager, head of legal and board secretary | Sohar International Bank
Joining the Bank in 2013 as head of legal affairs, Elsamawal A. Idris was the Sohar International Bank’s only in-house legal resource for a time. ‘This helped me push boundaries,...