Dushanbe, Tajikistan, April 27, 2010—IFC,
a member of the World Bank Group, is providing training for banks in Tajikistan
to help strengthen their corporate management practices and thus contribute
to increasing the sustainability of the country’s banking sector.
About 30 representatives of supervisory
boards and senior management of Tajik banks attended a one-day training
session. They were trained on the function of supervisory boards
with a particular focus on supervisory board objectives, the role of its
committees during internal audits, reporting procedures, and the role of
corporate secretaries and executive management.
“We thank IFC for training us on corporate
governance, a subject of current importance and relevance for banks in
Tajikistan,” said Kurbonov Samikhon, President of Closed Joint-stock Company
Fononbank. “This initiative has familiarized us with contemporary
trends in corporate governance that we will apply in our bank to improve
The training was part of the educational
program of the IFC Corporate Governance Project in Central Asia. So
far, IFC has conducted 36 trainings and seminars in the region for over
200 companies and banks willing to improve their corporate governance practices.
“IFC has been actively working with
representatives of Supervisory Boards of companies and banks in Tajikistan
on introducing modern corporate governance standards and practices,” said
Tahmina Nurova, Banking/Financial Disclosure Expert for IFC Central Asia
Corporate Governance Project. “This particular training allowed Tajik
bankers to get practical solutions for corporate governance issues they
face. We will continue this program in Tajikistan to make a positive impact
on the local corporate sector and help companies and banks become
more attractive to investors.”
The IFC Central Asia Corporate Governance
Project is supported by the Netherlands-IFC Partnership Program.
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 Netherlands-IFC Partnership
The Netherlands is one of IFC’s key
partners in delivering advisory services. The Netherlands-IFC Partnership
Program was established in 2002 to consolidate Dutch-supported advisory
programs under one umbrella. The NIPP was a framework agreement with a
focus on private sector development, an emphasis on small-business development,
access to finance, business and investment climate, and sustainable corporate
practices. Globally, the Netherlands is one of the world’s largest donors,
spending $6 billion, which is equivalent to 0.8 percent of its gross domestic