Finance firms to get corporate governance codes

The Mandatory Corporate Governance Code on Finance Companies will be out by early next year, according to a top Central Bank official.“We will take this year to review it and have deliberations with the relevant stakeholders.

By January 1st, 2009, we hope to issue the directions to the finance companies,” Nivard Cabraal, Governor Central Bank, told The Sunday Times FT. He said that the governance codes are issued in a bid to bring in mechanisms to ensure soundness in the finance firms.