Corporate governance is not a fad or a “flavour of month”, it is here to stay, said Sebastian Molineus, Corporate Governance Programme Manager, Private Enterprise Partnership for the Middleast and North Africa, International Finance Group (IFC).
Molineus, speaking at the “Corporate Governance Conference” yesterday, emphasised that corporate governance serves as a set of checks and balances for a company. He added the benefits include: “It develops a free and open market and it is also a rule based system that is fair and transparent”. Corporate failures, globalisation, economic stagnation and executive greed were all driving forces behind corporate governance said Molineus.
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