TAG-Org and Konrad Adenauer Stiftung Organize the Corporate Governance Seminar

AMMAN--------June 27, 2013------- For the second consecutive year, Talal Abu-Ghazaleh Organization (TAG-Org) and Konrad Adenauer Stiftung organized a seminar on "Corporate Governance" at Talal Abu-Ghazaleh Knowledge Forum.

In his keynote speech, HE Dr. Talal Abu-Ghazaleh, chairman of TAG-Org expressed his satisfaction for the partnership and cooperation with Konrad Adenauer Stiftung which resulted in the launch of a number of significant initiatives mainly the establishment of the Arab Center for Governance which has been launched in addition to the cooperation in the establishment of the Family Business Governance Centre which considers the biggest sector in the national economy.

He stressed the necessity that the seminar leads to positive and fruitful results as forming a working team to suggest a national project for governance to formulate standards that the enterprises work in harmony in good management.

He also suggested forming another working team to examine the governance of universities that suffer a main dilemma in its outputs.

“When we reach to the point to draft a law for governance, we have to study the economic impact for the governance standards,” he said.
 HE Dr. Abu-Ghazaleh suggested giving an award to be submitted by the Talal Abu-Ghazaleh Organization and Konrad Adenauer Stiftung to the sectors that encourage governance.
 
 He also highlighted the Nazaha project which will be launched by TAG-Org in cooperation with the British Government on June 26.

Meanwhile Dr. Otmar Oehring, Resident Representative Konrad-Adenauer-Stiftung said:"Recent reforms, liberalizations and privatizations by the government in Jordan helped the countries economy to grow. But at the same time this increasing growth combined with a free market and globalization has brought many challenges for family businesses. Additionally many businesses in Jordan struggle due to the economic crises and the consequences of the Arabic spring, which has led to a decrease in trade with neighbouring countries."

He added:"Family businesses are the backbone of the Jordanian economy and are a very important pillar of society and contributor to the countries wealth. To help family businesses and to make them more sustainable the Konrad-Adenauer-Stiftung together with TAG-Org conducts this workshop on corporate governance because many of these problems can be tackled or even eliminated by adopting sound corporate governance systems."

From his part, TAG-Org Senior Executive Director Mr. Mustafa Nasereddin highly commended the distinctive and long relation with Konrad-Adenauer-Stiftung which led to the implementation of successful programs and initiatives expressing hopes that such cooperation maintains and continues for the welfare of the society and the economy.

The participants discussed five topics that included: the Role of Corporate Governance in the economic Development, Corporate Governance and its Impact on the Level of Disclosure (Amman Stock Exchange), Corporate Governance in Jordan: the Case of Listed Companies in Amman Stock Exchange, the Role of Corporate Governance in the Fight against Financial and Administrative Corruption in addition to Corporate Governance Models Around the World.

At the end of the seminar, Nasereddin gave a briefing about the final remarks and recommendations presented by the participants and these were: the establishment of a task force to suggest a national project for the governance of enterprises and universities in addition to launching an award to be presented by TAG-Org and  Konrad-Adenauer-Stiftung to sectors committed to governance.