Organizations in the Middle East and North Africa region need to improve their standards of corporate governance to boost the area’s financial stability, according to a declaration from local policymakers, regulators, and business leaders.
The Doha Declaration, organized by the corporate governance institute Hawkamah after a conference in the Qatari capital, recommended a raft of reforms for the region. Among them: an extension of the regulatory and supervisory powers of central banks to cover investment banking; measures to make regulators more accountable; and improved rights for creditors.
