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General
Press Releases
Press
Release April
4, 2003CONFERENCE
ON
CORPORATE gOVERNANCE WITH SPECIAL EMPHASIS ON THE FINANCIAL
SECTOR
APRIL
15 & 16, 2003 SHERBOURNE
CONFERENCE CENTRE
BRIDGETOWN,
BARBADOS
Overview
Recently,
corporate scandals have brought forcibly to the attention of the
Western World, the importance of ensuring that corporations and
institutions have good governance structures in place.
While the more publicised cases have highlighted a few
sectors, it is believed that corporate governance in other
sectors may also benefit from review. It is against this
backdrop that the Central Bank of Barbados and the Barbados
Institute of Banking and Finance, despite the well-earned
reputation for good governance in Barbados, have designed this
conference to address “Corporate Governance with special
emphasis on the Financial Sector”.
The
ability of a financial system to withstand the effects of crisis
is largely determined by the efficacy of the governing practices
and institutions. The
East Asian financial crisis and those that followed in Russia,
Turkey, Brazil and Argentina have led to the realisation that
sound financial policies in isolation are not sufficient to
sustain financial stability. It is now widely accepted that a
contributing factor to each crisis was a weakness of governance.
These cases demonstrated that good corporate governance in all
sectors, particularly by large corporations, is as important as
good governance in the financial sector.
Weak governance has been linked to macroeconomic losses,
due in part to loss of foreign investor confidence, erosion of
currency value, and fiscal mismanagement. The challenge to build
efficient and accountable financial institutions that promote
confidence is an issue that financial sector executives and
policy-makers confront together.
This
conference aims to provide an interactive forum for the
presentation and discussion of standards and best practices in
corporate governance with a view to advancing the process for improvement
of corporate governance, more especially in the financial
sector. It is
of value to Board Members, Senior Executives, Accountants,
Lawyers, Auditors, Bankers and senior officials in the financial
sector.
PROGRAMME
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