working group 5 meeting on advancing the corporate ... filemeeting on advancing the corporate...
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Working Group 5 Meeting on Advancing the Corporate
Governance Agenda in the MENA Region
MENA OECD Investment ProgrammeWG on Improving Corporate Governance
Rabat, 14-15 September
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14 September 2005 Dr. Nasser Saidi 2
Agenda
1. WG 5 in review
2. Focusing on the Basics
3. Output & Future Directions
4. WG Rabat Meeting & Objectives
5. Focusing on Basics
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14 September 2005 Dr. Nasser Saidi 3
Investment Programme Dynamic Framework
Policies for
Financial Sector
Development
InvestmentPromotion Agencies &Business
Associations for CG Reform
Open & Transparent Investment
PoliciesImproving
CG
Tax Framework
for Investment Incentives
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14 September 2005 Dr. Nasser Saidi 4
WG 5 Strategic Phases
1. Stock Taking
2. Development of country specific & regional policy advice & initiatives
3. Support & assessment of progress in implementation
Improving CG
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WG 5 TOR in a Snapshot Short Term Objectives [1]
Supporting the establishment of National Task Forces to address CG
Developing an appropriate template in preparation of a regional comparative Survey
Participating in CG conferences & seminars
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WG 5 TOR in a Snapshot Short Term Objectives [2]
Developing training modules on CG reporting for economic journalists (CIPE)
Undertaking a regional survey of CG in the banking sector (UAB)
Supporting CG initiatives in the region through the joint IFC/WB Governance Department
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Outputs & Directions
Egypt, JordanDevelopment of National Corporate Governance CodesIII
MoroccoCorporate Governance of Non-Listed CompaniesIV
JordanAwareness RaisingVI
MoroccoCorporate Governance of State-Owned EnterprisesV
UAB, IFCA MENA Regional Corporate Governance Survey of BanksII
EgyptA MENA Regional Corporate Governance SurveyI
CoordinatorsAgreed Output
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WG on Advancing the CG Agenda in MENA, Rabat 2005
• Session I: Initial results from the MENA Comparative Corporate Governance Survey and the way forward to its completion
• Session II: MENA experience with the development and enforcement of corporate governance codes
• Session III: The frameworks and practices of SOE governance in the region
• Session IV: Corporate Governance reforms in Morocco• Session V: Progress with WG5 output areas and other
regional and country specific corporate governance initiatives
• Session VI: Conclusions and next steps
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Objectives of Rabat meeting
• Discuss initial results of the survey of corporate governance (CG) frameworks in the region and Identify further work to be undertaken in order to provide a draft for the MENA OECD Ministerial meeting scheduled in November 2005
• Examine progress with the corporate governance output areas including: CG of banks, CG codes, CG of non-listed companies, CG of state-owned enterprises (SOEs)
• Discuss recommendations on future action that could be presented to the MENA Investment Ministerial to be held in November 2005;
• Familiarise participants with the new OECD Guidelines on CG of SOEs.
• Awareness raising
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14 September 2005 Dr. Nasser Saidi 10
What Can We Do Better?
Co-operate more closely with other Working Groups
Provide Arabic translation of basic documentsWiden the “quality” of participation, involve the
private sector & involvement of all MENA countriesFocus on the harmonization of CG frameworks,
codes, principles & regulationsMaintain a high momentum by encouraging &
supporting national & regional initiativesAdopt the 12 KEY Standards for Sound Financial
Systems Build institutions and capacity: RCGI initiative
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14 September 2005 Dr. Nasser Saidi 11
Focusing on the Basics [I]
Public SectorCommitment
PrivateSectorReforms
International /RegionalCo-operation
FinancialMarketDev’ment
Stock Taking
GovernanceOf Banks
Non-listedCompanies
NationalInitiatives
Institution Building
Awareness Raising
Media Training & Education
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Focus on Basics [II]
Relevance: “Never forget the janitor” 1. MENA region experiencing many “gaps”:
development, digital, governance2. CG and Economic Development3. CG as contributor to anti-corruption,
waste and bribery strategy4. CG as building block of public sector
reform: CG of SOEs and SOAs
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14 September 2005 Dr. Nasser Saidi 13
MENA OECD Investment Programme
WG5 Corporate Governance
Thank youThank you