MGN Asset Management specialists give a presentation on the introduction of special committees to the Board of Directors

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MGN Asset Management specialists give a presentation to newly elected members of the Board of Directors, members of audit commissions and Corporate Secretaries on the introduction of special committees to the Board of Directors

MGN Asset Management specialists shared the idea how to increase the management efficiency in the companies with part of state’s share equity during the qualification improvement training for the management bodies of joint stock companies that was organized by the State Committee for State Property Management, 8-16 July. As a result of the training the recommendation was developed to introduce special committees to the Boards of Directors.

The Vice President of MGN Asset Management, Mr. Bakyt Satybekov, said, the problems of corporate behavior in Kyrgyzstan are rooted not in the country’s weak legislative basis as such, but rather in the lack of practice of corporate relations. Since the tradition of corporate behavior is emerging recently, it is necessary to improve the practice of corporate management step by step, in particularly, to accept a Code of Corporate Conduct by companies and to introduce strategic development and corporate management committees into their structures.

Furthermore, MGN Asset Management specialists invited the International Finance Corporation experts to give a presentation to the training participants about the principles of corporate management and adherence to the balance of interests among stakeholders from joint stock companies.