Gov’t says it is monitoring compliance of SOEs

Minister of Finance Ibrahim Ameer has stated that the government is monitoring state-owned enterprises (SOEs) to ensure compliance with the Corporate Governance Code. He made the statement via a letter to the Parliament of the Maldives. The letter was sent in response to a question posed by Parliamentarian Ibrahim Rasheed, who asked for details on the government’s efforts to ensure that SOEs are complying with the Corporate Governance Code.

In the letter, Minister Ameer said the government is monitoring SOEs to ensure their compliance with all the policies in the Corporate Governance Code. He said the policies are implemented under a Comply or Explain approach and that the Ministry of Finance regularly monitors the level of compliance. He added that a detailed report is published each year, which consists of reviews of the state-owned companies and their compliance with the policies.

Statistics published by the finance ministry show that there are currently 32 SOEs, which include companies with 100% government ownership and companies with local and foreign shareholders.