Business | General

Channel Sponsor

MoU aims to promote reform and corporate governance

The Ministry of Economy and Hawkamah the Institute for Corporate Governance (HICG) yesterday signed a Memorandum of Understanding (MoU) to promote corporate reform and improve upon corporate governance in commercial and financial activities in the UAE's public and private sectors.

  • Staff Report
  • Published: 00:00 June 27, 2006
  • Gulf News

Dubai: The Ministry of Economy and Hawkamah the Institute for Corporate Governance (HICG) yesterday signed a Memorandum of Understanding (MoU) to promote corporate reform and improve upon corporate governance in commercial and financial activities in the UAE's public and private sectors.

The MoU, signed by Minister of Economy Shaikha Lubna Al Qasimi and the Executive Director of HICG, Dr Nasser Saidi, will develop modern regulatory frameworks with respect to corporate governance for capital markets in the UAE in line with international best practices.

Better standards

Emphasising the importance of advocating corporate governance, Saidi said it will help to develop national legal and regulatory frameworks in the UAE with respect to corporate governance and best financial reporting standards.

Saidi said the minister will be taking the initiative of forming an emirate corporate governance taskforce in accordance with international standards.

Saidi pointed out that another objective is to cooperate on corporate governance institution-building in UAE, to develop communication strategy and an implementation programme focused on increasing the training capacity of institution and involving all stake holders.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Business General

  1. Gold demand robust as conditions improve

  2. DED stops dealing with paper licences

  3. Hershey mulls $17b solo bid for Cadbury

  4. Carbon emissions could rack up $4.5tr in losses

All articles in General

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice