First meeting of Working Group 5 on Corporate Governance

Amman, 14 February 2005

The first meeting of Working Group 5 (WG5) on Corporate Governance took place on 14 February 2005 in Amman, Jordan. the objective of the meeting was to define an action plan for WG5 as well as to carry forward the work of the MENA Regional Corporate Governance Forum, together with its partners from the Global Corporate Governance Forum (GCGF), the Centre for International Private Enterprise (CIPE) and the International Finance Corporation.  The meeting was hosted by the Jordan Securities Commission. 

Participants agreed on the following priority areas or outputs on which to focus their future work:

(i) MENA regional corporate governance survey,
(ii) MENA survey of corporate governance of banks,
(iii) National corporate governance codes,
(iv) Corporate governance of non-listed companies,
(v) Corporate governance of state-owned enterprises, and
(vi) Awareness raising.

Meeting documentation

• Agenda
• The MENA OECD Initiative and its Comparative Corporate Governance Survey, Ms. Elena Miteva, OECD
• Recommendations from the regional corporate governance private sector consultative meeting of 25 January 2005, Dr. Fouad Shaker, Union of Arab Banks
• Lessons from World Bank Reports on Observance of Standards and Codes, Ms. Tatiana Nenova, The World Bank Group
• Role of corporate governance codes in enhancing corporate governance of listed companies, Dr. Maged Shawky Sourial, Cairo and Alexandria Stock Exchanges
• Feedback from the private sector: results from a recent survey on corporate governance of listed companies in Morocco,  Dr. Rachid Belkahia, CGEM
• Corporate governance of listed companies: review of experiences and recent reforms in Jordan, Mr. Jalil Tarif, Amman Stock Exchange
• Union of Arab Banks Survey on Corporate Governance of Banks: rationale and framework, Dr. Fouad Shaker, UAB
• IFC Initiatives on Corporate Governance of Financial Institutions in MENA, Ms. Jumana Cobein, International Finance Corporation
• The current programme of the Islamic Financial Services Board on better governance of banks, Mr. Madzlan Mohamad Hussain, IFSB
• Next Steps for MENA Regional Corporate Governance Forum, Mr. Daniel Blume, OECD
• CIPE Regional and Country Specific Work on Corporate Governance in the MENA and Support to the MENA Regional Corporate Governance Forum, Mr. Talal Abu Hassan,  CIPE

Reference material

• OECD Corporate Governance portal
• Corporate Governance in MENA Countries: Improving Transparency and Disclosure, Dr. Nasser Saidi, Lebanese Transparency Organisation
• Policy Brief: the OECD Principles of Corporate Governance
• OECD Principles of Corporate Governance