The financial crisis in the global economy has brought into sharp focus the need for effective risk management strategies and implementation of corporate governance standards to avoid the complications which have occurred at various levels.
The Gulf Cooperation Council (GCC) is still in the nascent stages of the development of good governance standards according to Dr Nasser Saidi, the executive director of the Hawkamah Institute of Corporate Governance based at the Dubai International Financial Centre, for which Saidi is also the chief economist.
Saidi has previously served as Minister of Economy in Lebanon, and as deputy governor of Lebanon's Central Bank. Hawkamah's mission is to help regional countries and companies to develop well-integrated corporate governance frameworks.
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