Dushanbe, Tajikistan, April 9, 2015—A
new report by Imkon Consulting, a partner of IFC, a member of the World
Bank Group, urges Tajik companies to improve their corporate information
disclosure practices in order to enhance corporate governance, attract
investment, and better contribute to Tajikistan’s long-term economic growth.
The report, titled Surveying Corporate
Governance in the Republic of Tajikistan: Corporate Websites through the
Eyes of an Investor, is an independently produced survey of corporate information
disclosure practices in Tajikistan. It finds that most companies disclose
corporate information, including details about financing, performance,
ownership, and governance, on an ad hoc basis, often with incomplete information.
The report urges businesses to improve
information disclosure, which is essential for shareholders, potential
investors, regulatory authorities, and other stakeholders. It also supports
the view that high standards of transparency and disclosure can have a
positive impact on the cost of capital.
“At this crucial developmental stage, Tajik companies are in need of additional
financing. We sensed this need and conducted research to highlight one
of the powerful tools for attracting investors – transparency,” said
Zamira Samadova, Director of Imkon Consulting. “Moreover, as an IFC partner,
Imkon Consulting is fully equipped to provide high quality corporate governance
services to local companies and help them improve practices and boost their
Tahmina Nurova, IFC Operational Officer,
said: “Good corporate disclosure is one of the key indicators of sound
corporate governance and a good signal to potential investors who would
like to have complete information about the situation in a particular company
in order to compare investment opportunities. We hope the survey
will encourage more Tajik firms to follow better information disclosure
practices, demonstrating accountability and transparency.”
The report reviewed the websites of 32
companies from the financial, telecommunications, real, medicine, services,
and transport sectors. This initiative is part of IFC’s Central Asia Corporate
Governance Project, implemented in partnership with the government of Switzerland
and the United Kingdom’s Department for International Development (DFID).
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org.
About Imkon Consulting
Imkon Consulting operates in the market of Tajikistan since 2007. The company
specializes in a range of services in management consulting and business
education. Imkon Consulting are the official partners of IFC corporate
governance. For more information, visit www.imkon.net
To learn more about Swiss Assistance, please visit www.swiss-cooperation.admin.ch/centralasia.
To learn more about the UK’s Department for International Development,
please visit www.dfid.org.