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Corporate Governance
Principles For The OECS Member States
At its 63rd meeting held on 24 October 2008 in Basseterre,
St Kitts and Nevis, the Monetary Council approved the
Corporate Governance Principles for adoption by OECS
member countries.
The Corporate Governance Principles are aimed at improving
the legal, institutional and regulatory framework for
corporate governance in the Caribbean and facilitating
the development of national and/or sector specific codes.
The Principles, which are broadly modeled on the OECD
Principles for Corporate Governance, represent a common
basis that countries in the Caribbean consider essential
for the development of good governance practices.
The principles focus on publicly held companies however
they are also intended to serve as guiding principles
to improve corporate governance in privately held, family
owned and state owned enterprises as well as overall
public sector governance. They also articulate the role
of all stakeholders including customers, employees,
pensioners and the public in the governance process.
The Principles are consistent with emerging global
principles of corporate governance while taking into
consideration the unique economic, social, legal and
cultural circumstances of the region. They are non-binding
and non-prescriptive so that they retain relevance in
varying legal, economic and social contexts. However
they are intended to serve as a reference tool in the
development of national and/or sector specific codes
and in the further development of national legal and
regulatory frameworks.
The Corporate Governance Principles can play a critical
role in the further development of the region’s
money and capital market developments.
Corporate Governance
Principles For The OECS Member States |