Minister at the President's Office Ali Shiyam has highlighted the state-owned enterprises does not follow the policies of corporate governance, adding it negatively impacts the economy of the country.
Addressing a training programme conducted for board directors of state-owned enterprises and authorities by Capital Market Development Authority (CMDA), Minister Ali Shiyam said following corporate governance policies will ensure the enhancement of the economy. Shiyam, who was the economic advisor during the presidency of Mohamed Nasheed, said if transparent methods are not deployed by the companies it would lead to uncountable damages to the economy of the country.
Recently, Minister of Economic Development Fayyaz Ismail had also noted the state-owned enterprises does not follow the policies of corporate governance.