The Autoriti Monetari Brunei Darussalam, AMBD has been appointed as the champion for 'Protecting Minority Investors indicators', PMI under the initiative of the World Bank Ease of Doing Business with an objective to enhance the protection for minority investors in the country. The matter was announced by Awang Yusof bin Haji Abdul Rahman, Managing Director of AMBD during a media conference this morning.

AMBD has established a Taskforce comprising the representative from AMBD, Registrar of Companies and Business Names, ROCBN, Ministry of Finance, Darussalam Assets Sdn Bhd and Brunei Law Society in reviewing and analysing the Brunei Companies Act, with a focus on enhancing the protection afforded to minority shareholders.

PMI is one of the indicators under the World Bank's Ease of Doing Business that measures the strength minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse. The implementation of the initiative is hoped to raise the position of Brunei Darussalam in the 'World Bank Ease of Doing Business', with the support from the PENGGERAK Unit at the Prime Minister's Office, and Ease of Doing Business Steering Committee. Brunei Darussalam is currently at the position of 102 among 190 economies in the PMI indicator. It is an improvement of 16 steps from last year's report.

Source:
@BRUDIRECT.COM

by Brudirect.com

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