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[b]Corporate governance, increase confidence in the economy and raise the rate of investments[/b]
03/7/2013
Husseini: counted one of the most important developmental reforms joints Baghdad - Mostafa Hashemi He said economic expert, Dr. Ahmed al-Husseini said there are other determinants of external and internal corporate governance. Defines governance as the activity carried out by the management and relation to decisions that define expectations, grant power, or verify performance and consists of either a separate process or of a specific part of the operations of management or leadership and sometimes a group of people form a government to manage these processes and systems. He said al-Husseini told the (morning): The determinants of Foreign Affairs include the overall climate for investment regulator of economic activities in the country such as laws, regulations and procedures governing the labor market and companies. And regulation of competition and prevent monopolistic practices and bankruptcy, and the efficiency of the existence of the financial sector, which provides the necessary funds for the establishment of projects and efficiency of the regulatory bodies in corporate control provisions.
Associations and companies
He pointed to the existence of some self-regulatory organizations such as professional associations and companies operating in the stock market and the existence of private institutions free professions such as law firms and investment consulting offices. He noted that the determinants include internal rules and regulations and principles that define the style and shape of the decisions within the company as well as the distribution of powers and functions between the General Assembly and the Board of Directors and executives in order to reduce the conflict between the interests of these parties. Indicating that the governance ultimately lead to increased confidence in the national economy and the deepening of the labor market to mobilize savings and higher rates of investment and work to ensure the rights of the minority and small investors. As well as support and encourage the growth of the private sector, especially its competitiveness and project assistance in obtaining financing projects and achieve profits and job creation.
Global institutions
He said al-Husseini was keen global institutions, such as the Economic Cooperation and Development and the Basel Committee on Banking Supervision, International, and the International Finance Corporation, to develop specific criteria for the application of governance, and noted that the Organization for Economic Cooperation and Development identified five criteria in 1999 and then issued an amendment to her in 2004 and is the existence of frames of effective corporate governance to ensure efficiencies, transparency and efficiency of markets, and that clearly defines the allocation of responsibilities among the various regulatory authorities and the executive. and preserve the rights of all the shareholders and the equality of all shareholders, in terms of voting in the General Assembly in addition to the right to see and learn everything related transactions, referring to the find a legal mechanism that allows the participation of shareholders in the effective control of the company and access to the required information and is intended to banks and employees, bondholders and customers. As well as the application of transparency and disclosure in a timely manner for all of the company's business, including the financial situation, performance, ownership, as is disclosed in a manner fair to all shareholders in addition to defining the functions and duties of the Board of Directors and the method of their choice and their functions and their role in overseeing the management of the company.
Basel standards
The Chancellor stressed that the Basel Committee was developed in 1999 instructions and guidance on corporate governance in the banking and financial institutions was developed codes of honor among institutions to achieve and the application of good behavior between these institutions. And the development of the company's strategy with the participation and contribution of individuals. In addition to the identification and distribution of responsibilities and decision-making positions among the members of the Council. As well as the creation of a system includes the functions of internal and external audit and an independent management, as well as finding formulas and mechanisms of the type and form of cooperation between the board and the auditors. And find some kind of surveillance centers risks (such as major shareholders and senior management.) And the application of justice and equality in the allocation of financial incentives and administrative, whether between managers Aoualemozvin whether incentives physical or promotions or administrative. And ensuring the flow of appropriate information. Said Husseini it in 2003 and placed Foundation IFC of the World Bank and established rules and standards aimed at financial and administrative support within the governance institutions, the most important and should be good and acceptable practices. In addition to creating new steps to ensure good governance, the new, as well as posts essential to the development and improvement of good governance locally and good leadership. Explained that the advantages of corporate governance achieved many of the objectives is to achieve transparency, justice and protect the rights of shareholders in the company and this is done through the creation of rules and regulations and controls aimed at to achieving transparency and justice as well as finding controls and administrative rules and structures grant the company's management accountable to the General Assembly and guarantee the rights of shareholders in the company, in addition to the development and flow of investments through deepening investor confidence in the capital markets. And work on the development of savings and maximize profitability and create new jobs. Besides working on good financial performance through management accounting to shareholders. And the imposition of censorship and good actors on the performance of economic units to develop and improve the competitiveness of the units of economic development. Referring to work on the fight against behavior unacceptable, whether in the physical aspect or administrative or moral and create new jobs. Attracting investments, whether foreign or local, to reduce capital flight National outside . And transparency in the accounting and auditing procedures to minimize the financial and control of corruption in the company., As well as develop, improve and help decision-makers such as managers and boards of directors to build a sophisticated strategy serve the administrative and financial efficiency of the company. And work to stimulate the labor force in the company and improve their production rates, and deepen their confidence in the company. The increase of information and experience and skills as a result of working governance
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03/7/2013
Husseini: counted one of the most important developmental reforms joints Baghdad - Mostafa Hashemi He said economic expert, Dr. Ahmed al-Husseini said there are other determinants of external and internal corporate governance. Defines governance as the activity carried out by the management and relation to decisions that define expectations, grant power, or verify performance and consists of either a separate process or of a specific part of the operations of management or leadership and sometimes a group of people form a government to manage these processes and systems. He said al-Husseini told the (morning): The determinants of Foreign Affairs include the overall climate for investment regulator of economic activities in the country such as laws, regulations and procedures governing the labor market and companies. And regulation of competition and prevent monopolistic practices and bankruptcy, and the efficiency of the existence of the financial sector, which provides the necessary funds for the establishment of projects and efficiency of the regulatory bodies in corporate control provisions.
Associations and companies
He pointed to the existence of some self-regulatory organizations such as professional associations and companies operating in the stock market and the existence of private institutions free professions such as law firms and investment consulting offices. He noted that the determinants include internal rules and regulations and principles that define the style and shape of the decisions within the company as well as the distribution of powers and functions between the General Assembly and the Board of Directors and executives in order to reduce the conflict between the interests of these parties. Indicating that the governance ultimately lead to increased confidence in the national economy and the deepening of the labor market to mobilize savings and higher rates of investment and work to ensure the rights of the minority and small investors. As well as support and encourage the growth of the private sector, especially its competitiveness and project assistance in obtaining financing projects and achieve profits and job creation.
Global institutions
He said al-Husseini was keen global institutions, such as the Economic Cooperation and Development and the Basel Committee on Banking Supervision, International, and the International Finance Corporation, to develop specific criteria for the application of governance, and noted that the Organization for Economic Cooperation and Development identified five criteria in 1999 and then issued an amendment to her in 2004 and is the existence of frames of effective corporate governance to ensure efficiencies, transparency and efficiency of markets, and that clearly defines the allocation of responsibilities among the various regulatory authorities and the executive. and preserve the rights of all the shareholders and the equality of all shareholders, in terms of voting in the General Assembly in addition to the right to see and learn everything related transactions, referring to the find a legal mechanism that allows the participation of shareholders in the effective control of the company and access to the required information and is intended to banks and employees, bondholders and customers. As well as the application of transparency and disclosure in a timely manner for all of the company's business, including the financial situation, performance, ownership, as is disclosed in a manner fair to all shareholders in addition to defining the functions and duties of the Board of Directors and the method of their choice and their functions and their role in overseeing the management of the company.
Basel standards
The Chancellor stressed that the Basel Committee was developed in 1999 instructions and guidance on corporate governance in the banking and financial institutions was developed codes of honor among institutions to achieve and the application of good behavior between these institutions. And the development of the company's strategy with the participation and contribution of individuals. In addition to the identification and distribution of responsibilities and decision-making positions among the members of the Council. As well as the creation of a system includes the functions of internal and external audit and an independent management, as well as finding formulas and mechanisms of the type and form of cooperation between the board and the auditors. And find some kind of surveillance centers risks (such as major shareholders and senior management.) And the application of justice and equality in the allocation of financial incentives and administrative, whether between managers Aoualemozvin whether incentives physical or promotions or administrative. And ensuring the flow of appropriate information. Said Husseini it in 2003 and placed Foundation IFC of the World Bank and established rules and standards aimed at financial and administrative support within the governance institutions, the most important and should be good and acceptable practices. In addition to creating new steps to ensure good governance, the new, as well as posts essential to the development and improvement of good governance locally and good leadership. Explained that the advantages of corporate governance achieved many of the objectives is to achieve transparency, justice and protect the rights of shareholders in the company and this is done through the creation of rules and regulations and controls aimed at to achieving transparency and justice as well as finding controls and administrative rules and structures grant the company's management accountable to the General Assembly and guarantee the rights of shareholders in the company, in addition to the development and flow of investments through deepening investor confidence in the capital markets. And work on the development of savings and maximize profitability and create new jobs. Besides working on good financial performance through management accounting to shareholders. And the imposition of censorship and good actors on the performance of economic units to develop and improve the competitiveness of the units of economic development. Referring to work on the fight against behavior unacceptable, whether in the physical aspect or administrative or moral and create new jobs. Attracting investments, whether foreign or local, to reduce capital flight National outside . And transparency in the accounting and auditing procedures to minimize the financial and control of corruption in the company., As well as develop, improve and help decision-makers such as managers and boards of directors to build a sophisticated strategy serve the administrative and financial efficiency of the company. And work to stimulate the labor force in the company and improve their production rates, and deepen their confidence in the company. The increase of information and experience and skills as a result of working governance
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