Center for International Private Enterprise
Corporate Governance
Promotion: Access to
Funding and International
Expertise
March 14-15, 2006
Center for International Private
Enterprise (CIPE)
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Non-profit affiliate of the U.S. Chamber of Commerce
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One of the four core institutes of the National Endowment for
Democracy
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Supported more than 800 local initiatives in 95 developing countries
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Key issues:
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Business associations and advocacy
Combating corruption
Corporate governance
Informal sector and property rights
Access to information
Democratic governance
Building entrepreneurial culture and supporting women-owned businesses
Source: The World Bank Group
Key Institutions Must Function Well
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Procedures for bankruptcy
Property rights
Contract enforcement – judicial system(s)
Enforcement mechanisms for regulations
Securities markets
Free press – financial press
Rating agencies
Other systemic checks and balances
Professionalism in auditing, legal sectors, directors’
institutes
Human Capital
Supply of Directors – executive and nonexecutive
 Trained financial press
 Parliamentary oversight
 Capacity of regulatory et al personnel
 Judicial awareness and independence
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International Cooperation on Corporate
Governance in the MENA region
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OECD MENA Initiative on Governance and Investment
for Development Working Group 5: Improving Corporate
Governance Practices
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In co-operation with GCGF and CIPE, the working group has three
phases of work: stock taking, development of country specific and
regional policy advice and initiatives, and support and assessment of
progress in implementation.
International Finance Corporation (IFC)
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IFC aims to help companies and countries improve standards of
governance for corporations. IFC developed a corporate governance
methodology that IFC staff uses to assess the quality of the
governance of potential investee companies and that serves as a guide
for their work with clients to add value via improved client governance
practices.
International Cooperation on Corporate
Governance in the MENA region
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Global Corporate Governance Forum (GCGF)
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GCGF was co-founded by the World Bank and OECD to promote
global, regional, and local initiatives that aim to improve the institutional
framework and practices of corporate governance. The forum’s work
encompasses:
 Raising awareness and building consensus
 Supporting institution and capacity building through training
programs and tool kits
 Supporting research
 Disseminating information on best practices
Hawkama – The Institute for Corporate Governance
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Regional institute located in Dubai
Supported by Dubai International Financial Center, CIPE, IFC, UAE
Ministry of Finance, Union of Arab Banks, Dubai School of Government,
Young Arab Leaders, and the Institute of Management Development.
 Launched February 2006
CIPE Strategy on Corporate Governance in the
MENA region
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Initial Assessment and Advocacy – includes adopting OECD
Principles of Corporate Governance and raising awareness through
workshops and publications
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Outreach and Awareness Raising – includes developing corporate
governance codes, assistance in implementation, communications
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Capacity and Institutional Development – includes training and
certification of managers, directors, and financial intermediaries and
establishment of institutes of directors
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Consolidation – includes strengthening shareholders’ rights groups
and institutes of directors and conducting risk rankings and
evaluations
Program Models
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Russian Institute of Directors
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Developed advanced curriculum and training materials on corporate governance for
the directors of large private companies and based on the new Russian Corporate
Governance Code.
 The Russian Institute of Directors' website (www.rid.ru) focuses on putting in place
efficient corporate governance principles in Russian companies, and includes the
recently drafted Code of Corporate Conduct.
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Romanian Corporate Governance Code
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The International Center for Entrepreneurial Studies (ICES) and the Strategic
Alliance of Business Associations (SABA) developed a Romanian business
community-led "Voluntary Code of Corporate Governance.”
 Feedback and contributions from the business community served to establish a
national network on corporate governance.
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Kenya Center for Corporate Governance
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With the consent and support of the private sector and development partners, the
Private Sector Corporate Governance Trust (PSCGT) established the Kenya Center
for Corporate Governance to promote and monitor compliance with the principles
and practices of good corporate governance.
 Building national capacity to implement and apply the principles and practices of
good corporate governance through training, research, monitoring and evaluation
and advocacy programs.
Program Models
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Association of Development Financing Institutions in Asia and the
Pacific (ADFIAP)
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Focal point of all development banks and other financial institutions engaged in the
financing of development in the Asian and Pacific region.
 Developed a corporate governance rating system used throughout the region.
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Middle East Regional Corporate Governance Roundtables
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Region-wide initiative to assess the state of corporate governance in the Middle
East & North Africa in cooperation with GCGF
 Produced a comprehensive report on corporate governance in Morocco, Egypt,
Jordan, and Lebanon, including trends and recommendations for improvement
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Confecameras (Colombian Chamber of Commerce)
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Looked to as a leader in corporate governance reform efforts throughout Latin
America for its successes
 National survey to analyze the strengths and weaknesses of existing governance
structures among firms in Colombia was followed by a series of workshops on how
corporate governance affects the operational systems of firms
 Workshop for media on economic journalism to highlight how free access to
economic information improves governance, transparency and accountability
 Forum specifically for presidents, vice-presidents, members of the board, and
other managers in charge of corporate governance systems in their firms.
For a full list, see http://www.cipe.org/programs/corp_gov/othercg.htm
CIPE - MEPI Programs in Egypt
Developed the first corporate governance
code written in Arabic by and for the
Egyptian private sector.
 Supported the establishment of the
Egyptian Institute of Directors.
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CIPE – MEPI Programs in Lebanon
The Lebanese Transparency Association
developed a Code of Corporate
Governance for Small and Medium
Enterprises in Lebanon.
 The code will be publicly launched at the
end of March.
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Corporate Governance in West
Bank/Gaza
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Center for Private Sector Development (CPSD)
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Part of Palestinian Businessmen Association
CPSD 2003 program
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Conducted a baseline study on the status of corporate governance in private
sector firms.
 Implemented a multi-faceted corporate governance educational and advocacy
program which was focused primarily on improving accounting and auditing
practices in accordance with recognized international standards and fostering
more positive relations between business firms and commercial banks.
 Prepared a concise handbook on modern corporate governance, which is to be
used in workshops and in relevant academic institutions.
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CPSD 2006 program
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Conducting intensive workshops to raise awareness on corporate governance.
Conducting train the trainers program on corporate governance
Holding corporate governance course in West Bank/Gaza universities
Raising awareness through print media articles and televised debates
Training senior staff in corporate governance
Access to Funding
Supporting Business Association Involvement:
Companies are the end-users
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CIPE sources
 NED
 USAID
 MEPI
Proposal Process
 CIPE accepts proposal submissions on a quarterly basis
 CIPE Executive Committee and NED Board approval
CIPE Arabic Publications and
Hawkama website
In Search of
Good Directors:
A Guide to
Building
Corporate
Governance in
the 21st Century
www.hawkama.net
Guide to the
Egyptian
Code of
Corporate
Governance
Economic Reform Journal
Corporate
Governance
Trends
Newsletter