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Global Corporate Governance Forum

Monitoring and Implementing Corporate Governance Codes: Best Practices for Listed Companies, Banks, and Financial Institutions

Eurasia Regional Workshop #3, February 8-9, 2011, Baku, Azerbaijan

In recent years many countries have adopted corporate governance codes of best practice to restore and promote investor confidence, foster reform efforts, and provide companies with a benchmark for their governance policies. To accelerate this process in the Eurasia region and to help build technical capacity to satisfy the rising demand for advisory services in this field, the Forum, in partnership with IFC Advisory Services, is supporting a series of high-level technical workshops for Eurasia region on the development and implementation of corporate governance codes.

The first regional workshop was held in January 2009 and focused on the rationale and case for adopting corporate governance codes. It was followed by a second workshop in November 2009 on drafting and developing corporate governance codes. The third regional workshop was held in February 8-9, 2011, in Baku, with focus on revision and monitoring of corporate governance code implementation.

This workshop was designed for senior representatives of banking and securities regulators, capital market associations, government institutions and other stakeholders in CG Codes development and implementation. The issues discussed included how to promote the Code to companies, what are efficient tools for implementation of CG Codes, and how to monitor and measure the impact of the Code.

IFC Azerbaijan Corporate Governance Project and the Forum's activities in Azerbaijan are funded by the Swiss Governments' State Secretariat for Economic Affairs.

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Corporate Governance Codes in Eurasia - A Status Update

Day 1

Corporate Governance Codes – A Question of Enforcement… Keynote Address by Philip Armstrong, Head, Global Corporate Governance Forum. See also the powerpoint presentation.

Launch of Azerbaijan Corporate Governance Standards: Lessons Learned. Anar Hacizade, Head of the Corporate Governance Department, Ministry of the Economic Development of the Republic of Azerbaijan.

Planning of Launch and Dissemination: the Case of Tajikistan. Elov Furkatdzhon, Head of the securities market department, Ministry of Finance of the Republic of Tajikistan.

Business Case for CG Code Implementation in Pakistan. Khawar Ansari, Pakistan Corporate Governance Project, IFC Advisory Services. Supportive reading: Pakistan’s Code Of Corporate Governance 2002 re-visited by PICG

The Role of Market Regulator: Lessons Learned from Moldova (Russian). Alexandra Puscas, Member of the Council of Administration, National Commission of Financial Market of Republic of Moldova.

Corporate Governance Codes Implementation - The Role of the Banking Regulator. Zurab Gvasalia, President of the Association of Banks of Georgia.

Developing a Corporate Governance Scorecard - Lessons Learned from Southeast Europe. Prof. Bistra Boeva – Member of the Bulgarian Corporate Governance Commission and Member of the GCGF Private Sector Advisory Group. Example: Scorecard/ Evaluation Form for Corporate Governance in Bulgaria

Day 2

Implementing Codes at the Company Level. Charles Canfield, Senior Corporate Governance Officer, IFC.

Monitoring and Measuring the Impact of the Code: Lessons Learned from Turkey. Guray Karacar, Coordinator, Corporate Governance Association of Turkey.

The Role of National Corporate Governance Commission: Lessons Learned from Bulgaria. Prof. Bistra Boeva – Member of the Bulgarian Corporate Governance Commission and Member of the GCGF Private Sector Advisory Group.

Challenges in Reviewing the Code: Lessons Learned from Mongolia. Bolormaa Jalbaa, Senior Officer, Securities Market Department, Financial Regulatory Commission of Mongolia.

This event is part of the Forum’s program on developing Corporate Governance Codes and Scorecards.

For more information, please contact Ms. Ralitza Germanova at:

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