- 05/27/2019 at 6:32 pm #1006261EduGorillaKeymasterSelect Question Language :
Direction: Read the given passage and answers the questions that follow based on the information mentioned in it.
Several factors have resulted in issuing some laws and legislation by the government of Yemen mainly the focus of the government on encouraging and attracting foreign investments to Yemeni markets. Privatization, the bankruptcy of some Yemeni companies and banks, including National Bank for Trade and Investment (a private sector bank). Moreover, the collapse of some state-owned enterprises including General Corporation for External Trade and Cereals and Textiles Factory, and the state fighting of corruption. This came under the framework of financial, economic and administrative reform program adopted by the state since 1995 which realize the basis for corporate governance in Yemen. Those laws are seen as the mechanisms for realizing corporate governance in Yemen. Laws concerning fighting corruption, financial liabilities, bidding tenders, and completing reconstruction of civil service apparatus and central apparatus for control and auditing are considered as important foundations for the application of governance principles at the level of public and private sectors and civil society organizations.
The formal policy announcement in regard to corporate governance was first made by RBI in ________.
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