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Corporate Governance in MENA Region with ‘CIPE’

In the presence of the US Ambassador in Lebanon Maura Connelli, The Center for International Private Enterprise (CIPE) released a new resource, Advancing Corporate Governance in the Middle East and North Africa: Stories and Solutions, at an event hosted by the Institute of Directors (IOD), with the presence of business associations, NGO representattives and various stakeholders.

In his speech, the IOD chairman Mr. Fadi Saab focused on the importance of governance standards as a quality toolkit for the building of a proper national culture of integrity based on important values of ethics, transparency and accountability.

During her remarks, CIPE Program Officer Amy Thornberry commented that, “With political transitions spreading across the region, the importance of good governance and transparency in the public and private sphere has never been more important.

Ambassador Connelly noted, “The American Embassy in Beirut has long been a close partner of the business community in Lebanon, and we have worked to promote the principles of good corporate governance as a bridge between our two countries. The Embassy applauds CIPE and LTA‟s initiative, which sends a clear message to those who are entrenched in systemized corruption that they must change or get out of the way. These efforts also send a strong signal to the government that the public is watching and will hold it accountable, based on universal standards of transparency, fairness, and the rule of law. ”

The guidebook and accompanying video make the business case for corporate governance and present real-world success stories of companies in the MENA region that improved their governance practices. The resource is available in Arabic and English and is a joint project between CIPE and the Global Corporate Governance Forum (GCGF).

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