Government Housing Bank Introduces its Transformative New Corporate Governance Initiative--the "Good Governance Towards Sustainable Housing [G H] BANK" project

SINGAPORE, Sept. 5, 2024 /PRNewswire/ -- In pursuit of sustainable business operations, Government Housing Bank (G H Bank) has carried out its "Good Governance Towards Sustainable Housing [G H] BANK" project. The path to true, impactful change begins with an enterprise's corporate identity; this initiative sets out to achieve good corporate excellence and be ethical and transparent in its business operations. The initiative recently earned the Asia Responsible Enterprise Award (AREA) 2024 under the Corporate Governance category, presented by leading regional NGO Enterprise Asia.

The project targets scoring high in the Integrity and Transparency Assessment (ITA), which is considered a tool to drive state policies and a positive tool aimed at developing the Thai government system creatively rather than just focusing on enforcement. It is akin to an organizational health check-up tool, intending to inform state agencies nationwide about the status and issues regarding the integrity and transparency of the organization.

As G H Bank embarks on its 71st year, it reaffirms its unwavering commitment to the principles of good governance. This commitment extends to every executive and employee, emphasizing their collective responsibility in embodying these principles daily. The Bank has great trust in the leadership of its executives to set a robust ethical example. By fostering a culture of ethics and compliance, the Bank aims to attract and retain talented individuals to ensure its stable and sustainable growth. This commitment to its employees and their future is unwavering, and the Bank looks forward to a promising future for all its employees.

As a part of its achievements, G H Bank received an evaluation result at the AA level, becoming the first-ranked agency that had the highest evaluation score out of over 8,325 government agencies evaluated nationwide. Moreover, it is considered the highest score the Bank has received since participating in the ITA Assessment 2014, which is considered an honor and pride.

Through this program, G H Bank has shown effective corporate governance in its promotion of transparency, accountability, fairness, and ethical behavior within the organization. These changes have paved the way to building trust and confidence among investors, maintaining long-term sustainability, and fostering responsible business practices.

About Enterprise Asia

Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplifting the economic status of people across Asia and ensuring a legacy of hope, innovation, and courage for future generations. Please visit https://www.enterpriseasia.org/ for more information.

About Asia Responsible Enterprise Awards (AREA)

The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit https://enterpriseasia.org/area/.

SOURCE Enterprise Asia