“The job of the board is all to do with creating momentum, movement, improvement and
direction. If the board is not taking the company purposefully into the future, who is?” (Sir John
Harvey Jones)
With globalization vastly increasing the scale of trade and the size and complexity of
corporations and the bureaucracies constructed to attempt to control it, the importance of
corporate governance and internal regulations has been amplified as it becomes increasingly
difficult to regulate externally.
Corporate Governance refers to the processes, structures and information used for directing
and overseeing the management of an institution. A good corporate governance framework
establishes the mechanisms for achieving accountability between the Board, senior
management and shareholders, while protecting the interests of relevant stakeholders. It also
sets out the structure through which the division of power in the organization is determined.
The role and importance of banks in the financial system and the way banks are funded
underscores the need for a framework for corporate governance for licensed banks. The
legislative framework for banks recognizes this crucial role and the risk of malfeasance. Our
understanding is that by focusing in this direction and being involved directly in this process in
our organization, by researching in a methodological way and elaborating in depth on the
subject, We may have a direct contribution to the enhancement of the corporate governance
structure and practices in our organization as well as an indirect role, through different
professional associations to the melioration of the system of governance of financial
institutions in general in our country. We trust that this is a historic period for our country
aspiring to be integrated soon in the big European Union family.
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