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Corporate Governance
Effective corporate governance ensures the proper management, supervision and operation of any organization and provides a framework for communication between the board of directors and senior management. Countries with weak standards leave themselves vulnerable to fraud, which can have devastating economic effects. FSVC works with central and commercial banks and capital market institutions to coordinate on-site training, operational assistance and regional conferences designed to develop new standards, policies and practices of oversight, lines of accountability and shareholder relations. The result is a stronger, more transparent financial system that can help them reach their economic potential.
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FSVC Corporate Governance Experience Key Indicators: 1999-2011 |
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| Projects Completed | 49 |
| Number of Countries Served | 12 |
| Individuals Trained | 1,987 |
| Pro Bono Hours Delivered | 3,717 |
Countries Served:
Albania, Croatia, Egypt, India, Indonesia, Jordan, Libya, Macedonia, Malawi, Morocco, Russia, and Yemen
Types of Activities:
- Commentaries for executive and legislative bodies pending laws
and regulations;
and regulations;
- Consultations with financial institutions on establishing and maintaining effective management and reporting
structures;
- On-site operational assistance to help regulators and firms strengthen membership, compliance, and audit
procedures;
- Training on financial disclosure, listing requirements, and shareholder rights;
- Training for regulators and firms on monitoring, detecting, and investigating various forms of financial fraud and
misconduct.
structures;
- On-site operational assistance to help regulators and firms strengthen membership, compliance, and audit
procedures;
- Training on financial disclosure, listing requirements, and shareholder rights;
- Training for regulators and firms on monitoring, detecting, and investigating various forms of financial fraud and
misconduct.
Our Accomplishments:
Middle East Region - Hawkamah Institute (2008-2009):
From 2008 to 2009, FSVC provided three volunteer experts to join the Dubai-based Hawkamah Institute for Corporate Governance Task Force on Corporate Governance for the Insurance Industry with the objective of drafting minimum standard guidelines for the region. Following two formal meetings of the Task Force and numerous exchanges of comments from regulators and market participants, the Volunteers completed a Policy Brief on Corporate Governance that was approved for adoption region-wide by the Arab Forum of Insurance Regulatory Commissions (AFIRC).
Indonesia - Bank Indonesia (2006):
In 2006, FSVC provided an expert to assist Bank Indonesia (BI) and the Indonesian Communication Forum of Bank Compliance Directors (FKDKP) to discuss newly issued corporate governance regulations, in a workshop organized by BI and the FKDKP. As a result, officials from all relevant regulatory institutions and managers from all major Indonesian banks were provided a framework for practical implementation of good corporate governance principles. The seminar served as a model for additional sessions carried out by BI and the FKDKP throughout the country.
Middle East and North Africa – Hawkamah Institute for Corporate Governance (2008-2009):
FSVC’s collaboration with the Hawkamah Institute for Corporate Governance has focused on improving corporate governance in the Middle East and North Africa (MENA) region’s insurance sectors. Volunteers drafted policy papers on best practices for insurance corporate governance and delivered workshops on core principles to the Arab Forum of Insurance Regulatory Commissions (AFIRC).
