The Guidebook has been developed as a practical tool which reflects global good practices for the definition of, identification, management and reporting of related party transactions in banking. The practices that have been identified have not come from one place but from diverse and applicable practices derived from a number of countries such as Singapore,
Malaysia, Italy, Ireland, Hong Kong, Australia, United Kingdom and Canada. The Guidebook is not expected to reflect or repeat all relevant Vietnamese regulations. These should be clear from the regulations themselves. In any event, sound corporate governance is more than just compliance with the law and regulations. Corporate governance is about corporate behaviour and the tone set at the top by boards and management. Strong corporate governance is conveyed through a company’s leadership characteristics, its systems of accountability and through fairness, transparency and responsibility to the institution and its stakeholders.
Finally, this Guidebook is not expected to encompass all governance and disclosure issues but to deal only with those governance policies and procedures to demonstrate and for proper handling of related parties and related party transactions, including transparency and disclosure issues.