THE INTERNATIONAL FORUM OF SOVEREIGN WEALTH FUNDS (IFSWF) SELECTED THE FONDS SOUVERAIN DE DJIBOUTI
Led by Dr. Slim FERIANI, the Fonds Souverain de Djibouti (FSD) joined the International Forum of Sovereign Wealth Funds (IFSWF). This Forum now includes sovereign wealth funds from 40 countries.
The International Forum of Sovereign Wealth Funds (IFSWF), established in 2008, is a non-profit organization committed to promoting good governance and investment management practices and strengthening collaboration between funds. IFSWF also encourages a better understanding of SWF activity among governments and financial institutions.
The Fonds Souverain de Djibouti (FSD) expresses its willingness to adhere to the “24 Principles of Santiago” through this admission.
This code, developed by the members of the Sovereign Wealth Funds Working Group (IWG) at the creation of the Forum, sets out the Generally Accepted Principles and Practices (GAPP) to which the members of the IFSWF adhere to.
The following fundamental objectives guide these principles:
1- To help maintain a stable global financial system and free flow of capital and investment;
2- To comply with all applicable regulatory and disclosure requirements in the countries in which they invest;
3- Make their investments based on economic, environmental, and social risk considerations;
4- To have a transparent and sound governance structure that provides adequate operational controls, risk management, and accountability.
The Santiago Principles aim to promote SWFs’ independence, transparency and accountability.
Dr. Slim Feriani, chief executive officer of the Fonds Souverain de Djibouti, said:
“Admission to the IFSWF is an important step for the FSD. By joining the IFSWF community, we will be able to strengthen our governance and create new partnerships that will accelerate the development and diversification of the economy by maximizing the potential of Djibouti’s strategic resources.”
The FSD’s mission is the sustainable development and inclusive growth of Djibouti’s economy to create wealth that will serve the future generations of the Republic of Djibouti.