Hong Kong International Anti-Corruption Forum 2008, hosted by The Arab Chamber of Commerce & Industr

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(Free-Press-Release.com) December 15, 2008 -- Hong Kong International Anti-Corruption Forum 2008, hosted by The Arab Chamber of Commerce & Industry, in Hong Kong hailed with success by Chairman of the International Chamber of Commerce (ICC) and Regional Director for Asia Pacific of Transparency International.
The Arab Chamber of Commerce & Industry, in Hong Kong, in concert with initiatives by the International Chamber of Commerce, Transparency International and UNODC commemorating International Anti-Corruption Day on December 9 every year, hosted its first International Anti-Corruption Forum 2008

Corruption is now recognized to be one of the world's greatest challenges. The World Bank has stated that "bribery has become a $1 trillion industry." It is a major hindrance to sustainable development, with a disproportionate impact on poor communities and is corrosive on the very fabric of society.
Corruption is inherently wrong. It is a misuse of power and position and has a disproportionate impact on the poor and disadvantaged. There are a number of inherent reasons for which businesses should combat corruption in all its forms. This Forum addressed the latest Hong Kong legislated laws, advantages of corporate compliance and transparency, and the practicability of such high morals among developed and developing countries, singling specific cases of corruption and abuse of power..

The Program featured Ms. Yvonne Chia Solicitor, Corporate Strategy & Finance at Hammonds, who spoke on the new anti money laundering rules for lawyers, as an illustration of the increasing AML regulations for professionals in Hong Kong, Mr. Scott Lane Principal of The Red Flag Group, a Hong Kong based leader in Ethics Compliance across the Asia-Pacific, who addressed statistics and advantages of transparency, and Lord Edwin E. Hitti Economics & Policy Strategy Advisor, President and Founder of The Arab Chamber of Commerce & Industry, in Hong Kong. Author of “Basic Mechanics of Islamic Capitalism”, who addressed definitions of corruption, theoretical and realistic contrasts, as well as sharing hands on experiences with prevailing irregularities and abuses of power envisaged by the Chamber members.
The Forum was held at the Joint Professional Centre, attended by professional and commercial Chamber members and visiting academics from Hong Kong universities.

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