Dushanbe, Tajikistan, February 28,
2013—IFC, a member of the World Bank Group, today is distributing
a board creation manual to help businesses in Tajikistan improve governance
practices, strengthening operations and sustainability.
IFC has developed the Effective Board
Manual to help corporate directors, management, and shareholders of Tajik
companies establish effective boards of directors, a key element to good
corporate governance. Many successful businesses in Tajikistan lack a corporate
board and the strong, steady oversight it can provide.
“The manual will help Tajik companies
address the challenges of establishing a board of directors, see opportunities
to grow further and strengthen corporate governance practices to increase
their competitiveness,” said Zamira Samadova, CEO of Imkon Consulting.
IFC plans to disseminate 2,000 copies
of the manual to meet the high demand from more than 400 joint stock companies
operating in Tajikistan. The manual recommends best practices in organizing
and running a board of directors, and will also be used as a reference
tool in local educational institutions.
“IFC’s experts developed the manual
to help companies establish strong boards of directors, which are key to
long-term prosperity for any company,” said Sergii Tryputen, Project Manager
of the IFC Central Asia Corporate Governance Project. “For the first time
in Tajikistan, the manual has been specifically tailored to local legislative
requirements and market needs.”
This initiative is part of IFC’s Central
Asia Corporate Governance Project, implemented in partnership with the
United Kingdom’s Department for International Development. The Project
helps local joint stock companies and banks strengthen their corporate
governance practices to increase their ability to attract financing and
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.
To learn more about DFID, visit www.dfid.gov.uk.