The Organization for Economic Cooperation and Development (OECD) defines corporate governance as a set of relations between Corporation’s management, Board of Directors, shareholders and the other stakeholders. Corporate Governance shows the mechanism through which objectives of the corporation are set and the means for achieving and monitoring these objectives. Accordingly, the good corporate governance provides the Board of Directors and the executive management with the appropriate incentives to reach these objectives which serve the best interest of the corporation and facilitate establishing an efficient control process. Corporate Governance helps the Corporation use its resources efficiently.
Good corporate governance in the Investment Unit lies down the foundation to develop good corporate practices to support the confidence in SSIU’s activities as an independent entity to administer the funds of the Social Security Corporation competently and professionally. It also clarifies communication mechanisms between the Investment Unit and the Board of Directors of the Social Security Corporation (SSC) in its capacity as the guardian of the SSC’s funds, in accordance with the best international practices in administering pension funds.
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