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The Implementation of Corporate Governance Standards in the Lebanese Banking Sector

Elie M. Moussallem

出版	Faculty of Political Science, Public Administration and Diplomacy, Notre Dame University, Louaize, 2010
URL	http://books.google.com.hk/books?id=1iJKtAEACAAJ&hl=&source=gbs_api

註釋

The objective of this thesis is to measure the application of corporate governance in the Lebanese Banking sector. For that purpose, a survey was conducted during the first two quaters of 2010 targeting the Banks which are members of the Corporate Governance Committee in the Association of Banks in Lebanon. The survey was segregated into four Corporate Governance themes, The commitment to Corporate Governance; The structure and functioning of the Board of Directors; Risk Management and internal controls; Transparency and disclosure. The survey revealed the need to implement the following measures (among others); The development of a Corporate Governance Codes, or guidelines which outline the bank's Corporate Governance practices; The appointment of a specialized officer whose responsibilities include the organization and functioning of the BOD as per the Corporate Governance standards and requirements; The separation between the positions of Chairman and Chief Executive Officer; The nomination of Board Member who are independent of management and controlling shareholders; The periodic review of the bank's risk management system policies; The establishment of Audit Committees and Internal Audit Units with Charters approved by the board. On the other hand the survey highlighted the following weaknesses (among others); The lack of a formal procedure for selection and performance management of board members and the Chief Executive Officer; The absence of written policies or by-laws specifically referring to the conduct of Board members; The lack of disclosure of the Corporate Governance policies and the code of ethics of the bank, and their related policies and the main provision of their implementation; Aligned with the survey results, this thesis recommended a guideline to be used as reference and way forward in the application of Corporate Governance in the Lebanese Banks.