Role of Corporate governance in Supervisory board’s activity

On March 28-29, 2017 the National Bank of Tajikistan in association with Representatives of the Program of the International Financial Corporation on Corporate Governance in the Central Asia held a seminar on “Leading role of Supervisory Board in Banks’ Corporate governance system”.

During the given seminar in which Chairmen of Board and Heads of Board of Directors systemic banks of country took part, Mr. Jamshed Nurmahmadzoda, the Chairman of the National Bank of Tajikistan made a speech and wished successes to participants of seminar in the analysis and studying of improvement methods of a corporate governance in banking activity and role of Supervisory Board.

Seminar Chair – Mr. Sirojiddin Ikromi, Deputy Chairman of the National Bank of Tajikistan has stressed the necessity of reforms in sphere of restoration of population’s confidence to banking system and issues connected with corporate governance. He has noted that the purpose of conducting of a seminar particularly with participation of Chairmen of Board and Heads of the Banks’ Supervisory Boards is improvement of effective activity of the Supervisory Board of banks, organisation of efficient control of banks including, in sphere of realisation of general risk management strategy and their management policies, adoption of important decisions and comprehensive analysis, and also strengthening of banking supervision with development of corporate governance with support of Council and Board of banks.

Seminar participants within the limits of Group sessions had possibility to revise the issues, Supervisory board faces with during performance of its obligations towards of strategy determination and realisation of supervising responsibilities, including decision of arisen issues.

Also during group sessions issues of increase of effective activity of the Supervisory Board by adequate definition of competency and responsibility of the Supervisory Board and management including, the proper organisation of sessions and performance of annual assessments have been discussed.

It should be noted that seminar on “Leading role of the Supervisory Board in Banks Corporate governance system” is organised within the frame of the IFC World Bank Group Management Programme on Corporate Governance in Central Asia of with support of Government of Switzerland (SECO) and Great Britain (DFID). The Programme on Corporate Governance in the Central Asia (IFC) in the given seminar was represented by Ms. Julia Holodkova, Project coordinator on Corporate Governance in the Central Asia, Ms. Olga Koldasova and Mr. Anatoly Efimenko - Senior Legal Advisers on Corporate Governance.

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