THE Ministry of Finance announced that His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the introduction of the ‘Code of Corporate Governance, Brunei Darussalam’ for companies registered in Brunei Darussalam.
The code is introduced as a reference guide for local companies to strengthen governance and support their long-term growth and development by adopting best international practices.
The code, among others, stipulates that each company establish an effective board to lead the company and accountable management rules which promote transparency and governance.
Copies of the Code of Corporate Governance may be obtained from the Registry of Companies and Business Names Division at the Ministry of Finance or its website www.mof.gov.bn.
- Borneo Bulletin
(13 December 2014)