Browse related articlesKuwait fund opposes complete transparency
Kuwait: Thursday, April 10 - 2008 at 11:03
A top Kuwait Investment Authority official said a code of conduct requiring full transparency at state-backed sovereign wealth funds would harm financial market efficiency, reported Reuters. The International Monetary Fund is drafting a voluntary code of conduct for the sector that would establish best practice principles in governance and transparency to help ensure that the funds have economic rather than political motives. But the Kuwait Investment Authority's managing director, Bader Al Saad, said his fund already met most proposed requirements on governance and transparency and an official code of conduct would not help.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 11:03 UAE local time (GMT+4)
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