TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIFC, OJK ink corporate governance road map
The International Finance Corporation (IFC), a member of the World Bank Group, and the Financial Services Authority (OJK) signed an agreement to improve corporate governance standards in Indonesia
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
T
he International Finance Corporation (IFC), a member of the World Bank Group, and the Financial Services Authority (OJK) signed an agreement to improve corporate governance standards in Indonesia.
Under the agreement, signed on Tuesday, the IFC will advise and support the OJK to develop a corporate governance road map to identify gaps and challenges in Indonesia's regulatory framework. It will cover areas such as shareholder rights, protection of minority shareholders, corporate board practices, disclosure and transparency.
The two organizations will also finalize an Indonesian corporate governance manual to provide best practice guidelines to practitioners, board members and policymakers.
The IFC established its corporate governance program in Indonesia in June 2012 and has conducted 10 seminars and conferences, such as a women leaders' forum, training for family businesses and lectures at Indonesian universities. The IFC is also helping private firms improve their corporate governance practices.
'Good corporate governance standards and practices help improve the competitiveness and sustainability of businesses, ultimately fostering economic development,' said Sérgio Pimenta, IFC Director for East Asia and Pacific.
'Our cooperation with Indonesia's OJK will help strengthen the country's financial system,' he added.
