by Zawya, March 22, 2010.
Abu Dhabi, 22 March 2010: Ministry of Finance today hosted the first in a series of meetings on corporate governance for Federal Government representatives nominated on the boards of UAE joint companies and other UAE authorities. The meeting was attended by HE Younis Haji Al Khoori, Director General of MoF, HE Khalid Al Bustani, Executive Director of International Financial Relations Sector, HE Musabah Al Suwaidi, Executive Director of Support Services Sector, Mr. Ali Hamdan Ahmed, Director of International Financial Organizations Department, and a number of MoF department managers.
The Ministry of Finance is committed to improve corporate governance standards and to revitalize the role played by the government in regional and international companies in which it participates. It also aims to strengthen international financial relations with Arab and other foreign countries in light of increasing investments to grow UAE’s future revenues.
In his opening address, HE Younis Haji Al Khoori, Director General of MoF said: “The importance of corporate governance has increased as it plays a vital role in improving economic, financial and investment performance globally.It is necessary to enforce and follow-up a governance code of conduct to guarantee the rights of shareholders and investors. Advances in corporate governance are designed for greater protection of companies’ assets and property, helps achieve sustainable economic progress and increases effectiveness of capital flows.”…(continue reading)