Page last modified on Oct 20, 2008
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Upon the request of the CMDA, the World Bank Group is going to carry out a ROSC (Reports on the Observance of Standard Codes) assessment in Maldives on Corporate Governance. The work relating to the assessment is to start immediately and the World Bank is expected to complete the ROSC during the first quarter of 2009.
The steps to undertake the ROSC are as follows:
1. On the first phase collect information about the local Corporate Governance framework.
2. World Bank will draft a report, based on the publically available information.
3. A mission of the World Bank will come to Maldives to carry out a due diligence exercise and present their findings.
World Bank and IMF launched the standards and codes initiative in 1999, in the wake of the financial crises in Asia in 1997-1998. The initiative was designed to promote domestic and international financial stability through the development and implementation of international standards and codes.
