Anti-Corruption Commission (ACC) and Privatization and Corporatization Board (PCB), on Tuesday, executed a Memorandum of Association (MoU) to collaborate in preventing corruption.
The MoU was signed during a special ceremony held at ACC on Tuesday, with President Adam Shamil representing ACC, and President Asim Mohamed representing PCB – which was attended by ACC members and officials as well as PCB members and senior officials.
ACC reports that the MoU will assist in obtaining documents and information on allegations against state-owned companies and will determine how the two institutions will work together to facilitate access to such information.
It will also provide for the implementation of the ACC recommendations to prevent corruption.
Speaking at the signing ceremony, ACC member Thoha Mohamed said that 833 cases with respect to state-owned companies have been registered with ACC in the past five years – whereas 158 recommendations were made by ACC to the companies following the completion of their investigations.
Therewith, he said the MoU would facilitate easier arrangements for cooperation in ACC investigations, increase awareness among employees on corruption, and allow the two institutions to exchange information and experiences more efficiently.
PCB’s President Asim who also spoke at the ceremony underscored the importance of such an MoU – emphasizing the need to implement the terms agreed between both parties at the earliest.