CLDP Helps Bahrain Develop a Three-Stage Program to Increase Transparency in Corporate Governance and Enhance SME Access to Financing

February 25, 2007 - February 26, 2007
CLDP Advisor, Tom Jersild, with members of the Bahrain Corporate Governance Steering Committee
CLDP Advisor, Tom Jersild, with members of the Bahrain Corporate Governance Steering Committee

On February 25 and 26, 2007, over 200 participants attended the seminar and roundtable discussions organized by CLDP in cooperation with the Financial Services Volunteer Corps, Bahrain Ministry of Industry and Commerce, the Bahrain Economic Development Board, Bahrain Labor Fund, Bahrain Chamber of Commerce and Industry, and Bahrain Labor Markets Reform Authority to increase transparency in corporate governance and enhance small and medium sized enterprise (SME) access to financing. Seminar presentations included a review of Bahrain's new corporate governance code (which CLDP experts assisted in drafting) and covered the code's potential impact in Bahrain. The seminar emphasized the benefits of good corporate governance for SMEs as well as large companies and outlined the importance of accessibility in corporate governance practices. Additionally, seminar presentations addressed the role of banks and SMEs in optimizing lending opportunities and sustaining access to capital for SMEs. During the seminar local lawyers, government officials, members of Bahrain's Corporate Governance Steering Committee, and SMEs in Bahrain gained a greater understanding of corporate governance and SME access to financing. The seminar also promoted corporate governance as a mechanism to enhance transparency, stability and succession planning, avoidance of company dissolution, and limiting excessive judicial intervention. Additionally, the seminar resulted in the following positive outcome: 1) participants agreed to a three-year phase in of the Bahrain corporate governance code for SMEs; 2) Bahraini government authorities will propose that banks create new criteria for financing for SMEs in Bahrain, including SME's reporting related to corporate governance, with potential Bahraini government certified "Corporate Governance Compliant Stamps" available to companies; and 3) Bahraini authorities will coordinate judicial training regarding company law and corporate governance.

CLDP in Action

February 19, 2019

On February 19, CLDP participated in a networking luncheon, hosted by the Washington Intergovernmental Professional Group, to hear from Uzbekistan’s ambassador to the U.S. about Uzbekistan’s commitment to reform and openness. 

Read More about Uzbekistan: CLDP Hears from Uzbekistan’s Ambassador to the U.S. on Development Potential in Uzbekistan