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IFC, Amman Chamber of Commerce Tackle Corporate Governance and Gender Diversity


In Amman:
Riham Mustafa
Phone: +202 24 619 140
Fax: +202 24 619 145
E-mail: RMustafa@ifc.org

Amman, Jordan, June 14, 2010—IFC, a member of the World Bank Group, is helping raise awareness among Jordanian companies about the value of corporate governance and gender diversity, critical issues that affect a company’s efficiency and attractiveness to investors.

In cooperation with the Amman Chamber of Commerce, IFC organized two events in Jordan this week to delve into these issues. Additionally, both events promoted the importance and benefits of preparing female executives for board directorships.    

One event featured guest speakers from the International Women Forum, the Business Professional Women Association, Microfund for Women, and Schema.  The speakers presented the case for gender-diversified boards and shared their experiences regarding the importance and impact of gender diversity on financial performance and operational efficiency.  

“Enhancing corporate governance and gender diversity are necessary steps for any company working to improve its position in the market,” said James Razook, IFC Corporate Governance Program Manager.  “Working with the Amman Chamber of Commerce has allowed us to make crucial inroads in these vital areas.”

IFC and the Amman Chamber of Commerce signed a cooperation agreement on June 7 that includes organizing training events to prepare female executives for board directorships, as well as helping raise awareness of the importance of corporate governance for small and medium enterprises and the benefits of gender diversity.

“Having women serve on corporate boards is vital,” said Maha Ali, Secretary General of Jordan’s Ministry of Industry and Trade, who participated in one of the events.  “We have a social responsibility to encourage Jordanian women to be more integrated into the workforce and to attain more senior executive and directorship positions.”

The events are led by the IFC Middle East and North Africa Corporate Governance Program.  They are part of IFC’s efforts to improve corporate governance practices among both private and public sector entities.  In the Middle East and North Africa, IFC operates country-specific corporate governance programs in Jordan, Pakistan, and Yemen, and previously carried out activities in several countries, including Egypt, Lebanon, Morocco, Saudi Arabia, the United Arab Emirates, and the West Bank and Gaza.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org.

About the Amman Chamber of Commerce
Amman Chamber of Commerce is one of the major organizations representing the private sector in Amman – Jordan, and which has more than 40,000 registered members. The ACC was founded in 1923 as a nonprofit organization to regulate and represent the interests of all trade firms in Amman and surrounding areas, and as one of the oldest Chambers of Commerce in the Hashemite Kingdom of Jordan. For more information, visit www.ammanchamber.org.