Financial transparency, corporate governance and information disclosure of the entrepreneur’s corporation in Rastin banking

This paper aims to define a set of operating regulations for financial transparency, corporate governance and information disclosure for the entrepreneur that applies to bank to receive financial resources.

Corporate governance, financial transparency and information disclosure are among the most important solutions to attract public trust to financial operations. To reach this goal, a new set of regulations must be designed to solve the problem. In this regard, Rastin Banking regulations can provide a base to obtain a better circulation of information and a higher clarity.

A draft of regulations for financial transparency, corporate governance and information disclosure was compiled, and it is presented here briefly in this paper, which can be used as a basis for codification of the respective law.

As such kinds of regulations are novel, they are required to be discussed first, and after adaptation, adjustment and performing the necessary modifications, the text of the law can be codified.

Banks and companies managers, through granting various concessions to themselves and their own stakeholders, have violated the rights of the shareholders, depositors and other stakeholders. This issue, to a great extent is adjustable by applying the governance methods.

This procedure is a model and can be adopted in other countries, especially in countries that have large ambiguities in their banking and financial operations.

Clearly, lack of transparency in financial operations can gradually weaken the trust of depositors, shareholders and stakeholders, and result in probable abuses and damages to all parties of banking contracts. This paper fulfils an identified need and solves the practical problem in financial abuses, corruption and collusion and can provide positive and important effects toward creating public trust in financial operations.