Saturday, September 24, 2005

DIFX allays concern on governance


The Dubai International Financial Exchange, that will begin trading on Monday, denied allegations yesterday made by a news agency that there were concerns about the governance of the exchange.

Dow Jones in an article published yesterday said a DIFX board member had accused DIFX's chairman and chief executive of violating good corporate governance practice and conflict of interest.

It said the board member had alleged that both men were involved in a financial consultancy, Bourse Consult, and the connection was not properly disclosed to the DIFX board.

But DIFX denied that this led to any concerns of corporate governance.

See full Article.