Azerbaijan, Baku, Feb.4 / Trend N. Ismayilova /
A presentation on corporate management standards prepared upon the order of the Azerbaijani Economic Development Ministry by a working group on corporate management will be held in Azerbaijan, the International Finance Corporation (IFC) Baku Office said. The presentation is scheduled for Feb. 7.
These standards were approved in January by the ministry.
The corporate management standards will cover the necessary tools and mechanisms to resolve the problems of local companies in the sphere of management. They will reflect issues such as the protection of shareholder rights, the establishment of a balance between management authorities, ensuring transparency, and other progressive principles.
These standards have a voluntary character and clarify relations unregulated by existing legislation, and also serve as an introduction of best practice in Azerbaijan.