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Shammari: Adoption of corporate governance need to attract funding
3/30/2016 0:00
[rtl] BAGHDAD - Hussein al - Tamimi Tgb
showed many financial institutions great attention to the issue of governance that addresses all forms of manipulation Balmekdrat gives smooth high for the implementation of the business, prompting economists calling for the adoption ofgood governance mechanisms in order to achieve economic viability of the country.
International Union of Arab Bankers member d. Sadiq al - Shammari said that most of the banks and financial institutions has paid increasing attention to the issue ofgovernance , with the bulk of their attention focused this subject, especially after thegrowing role of the massive expansion of the private sector in the economic life as it hasbecome to this sector is important and vital role of the foundation in the development of the economies of countries. Financing sources said on the sidelines an economic conference attended by «morning« the importance of governance is its ability to attract and attract local and international sources of funding for expansion, growth and development, and to maximize the market value of the shareholders and theshareholders and supports competition in the market competition, as well as the use ofmechanisms and instruments that will be the evolution of investments in all fields so as to achieve profitability and in order to minimize the risk, also supports the stability offinancial markets in the banking systems, which leads to efficiency and the economic value required and increase the efficiency of resource allocation, pointing out that they contribute to the activation of controls to protect the banks and financial institutions resources and work to strengthen investor confidence, and to ensure that disclosure and transparency in Consolidated financial. commitment management and mean governance rules and principles ambitious group - oriented set by the board of Directors to help and assist the administrators in the commitment to management in a transparent manner and to disclose all data in the framework of the goal of the matter and professional behavior on the basis of a clear base to contribute in that all the players through their activities in the field management in order to achieve the organization 's mission and purposeintended. Shammari said the need has emerged to governance after the economic collapse and financial crises in many countries in the nineties of the twentieth century, and also after the accounting and financial collapses of many international companies and the subsequent bankruptcy of many banks, and edit financial globalization and technological progress markets, also adopted as a means of providing protection against corruption and poor management. control Systems and noted that governance is working on regulations to ensure that reduce fraud and corruption, conflict of interests and put control and audit systems and accountability to the departments of banks and members of the board of Directors and Taatbna Systems seizes matter and the distribution ofrights and responsibilities, and enhance the confidence of stakeholders and stoke their role, indicating that it cringe difficulties facing the application and implementation ofcorporate governance mechanisms in the financial and banking institutions in Iraq. large landslides and said Shammari said that the most important obligations that called orientation towards the governance of large landslides in the majors and public scandals that followed the collapse, as well as the intensification of financial corruption as happened in major companies as well as the explosion of the financial crisis in Southeast Asia in 1997, Mexico and Argentina, as well as the lack of legal and regulatory systems for these companies and institutions in many countries and the weakness of supervision and control systems, and freedom financial many companies and opening the world. He concluded by saying: we infer through the reasons for the adoption of good governance that there is a problem (mismanagement) whatever the reasons and therefore, good governance administration will lead to curtail many of the problems that accompany thework and the completion of projects. [/rtl]
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