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SWFs set voluntary principles
- Middle East: Thursday, September 04 - 2008 at 14:04
Representatives from 26 governments, including the UAE, Qatar, Kuwait, and Bahrain, have agreed on a voluntary code of conduct for sovereign wealth funds. The International Working Group of Sovereign Wealth Funds, organised by the International Monetary Fund and co-chaired by Abu Dhabi, reached a preliminary agreement on 24 generally accepted principles and practices for the funds to follow. The deal will be put to the IMF members at its October meeting. The new guidance will cover issues like transparency, governance and accountability of these huge funds.
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Jeff Florian, Senior ReporterThursday, September 04 - 2008 at 14:04 UAE local time (GMT+4)
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