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Sunday, 14 November 2010

Bahrain issues new corporate governance rules

The Central Bank of Bahrain (CBB) has issued the new requirements incorporating the corporate governance code of the Kingdom in line with the code issued earlier this year by the Ministry of Industry and Commerce.

The new rules issued last month for banks include both the new corporate governance code requirements (formally announced, the existing CBB requirements and new Board attendance rules).

The new rules incorporate the nine fundamental principles of corporate governance stipulated in the code for financial institutions, their boards and management to follow, said a CBB statement.