The need for high standards of corporate governance is, therefore, one of the main lessons to be drawn from the global financial crisis. It is in this context that the CBB views the new Code as a significant development in strengthening Bahrain’s reputation as a well regulated financial centre. The new Code builds on current international best practice for corporate governance.
For example, it reflects the corporate governance principles developed by the Organisation for  BIS Review 32/2010  1  Economic Cooperation and Development which have become the benchmark for international standards in the field.