The expansion of the MENA region’s equity and debt capital markets must go hand in hand with stronger corporate governance and financial regulation. Financial market reform requires better governance structures, necessitating legal reforms as well as improvements in policies and procedures required to foster private sector development and tackle inefficient, ineffective and discriminatory government practices.
Better public governance – the rule of law, protection of property rights, efficient bureaucracy, anti-corruption measures, effective and transparent regulations, and quicker licensing procedures – are intrinsically linked to corporate governance.
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