Bahrain plans tougher laws to combat corruption
Manama, April 10, 2009
Bahrain is planning to implement tougher laws to combat corruption and bribery and protect shareholders' money and inalienable rights.
'The aim would be to protect shareholders' money and inalienable rights,' Crown Prince and Economic Development Board (EDB) chairman Shaikh Salman bin Hamad Al Khalifa said.
He was speaking as he chaired the weekly EDB meeting at Riffa Palace on Thursday night.
The penal law will be amended to include an article dealing with bribery and embezzlement in the private sector.
The crackdown will seek to invigorate the private sector to spearhead national development, optimise resources, enforce transparency and ensure equal opportunities, he said.
'The drive will guarantee justice as a key principle guiding Bahrain's Economic Vision 2030, the Crown Prince said.
The public and private sectors were also urged to start implementing the National Economic Strategy.
'Bahraini citizens should feel and reap the fruits of economic development,' Shaikh Salman said.
He urged accurate and calculated planning to boost the national economy and optimise productivity. 'The dividends will have a positive impact on Bahrainis' standard of living,' he said.-TradeArabia News Service