 Bismillah Khmanraim, As-Salaam-e-Alaikum-e-Pakistan. Welcome back to corporate governance. We will be talking about universalization, internationalization and globalization of corporate governance. We have seen the different dynamics. We have seen the various undulations and endulations. We have seen how various factors tend to affect all three of them. We have seen how it tends to facilitate economic growth and also growth of economies. We have seen how there are extremities due to the financial or financialization of equities. And we have also been seeing that there is a lot of uncertainty, especially in the post-COVID scenario and when foreign direct investment is dwindling and the whole global markets are becoming much more competitive. Now, the best way forward is that there should be globalization of regulations so that there can be uniformity of laws, policies, strategies. And then it should be coupled with regulations to ensure that everyone is playing on a level playing field and every institution and every national economy understands other economies and other regions and also the mechanizations which are taking place between the infinite or unfathomable factors of governance. Now, ladies and gentlemen, the forefront regulatory institution has been the organization for economic cooperation development and we have seen that on policy analysis and promotion of the expansion of world trade and foreign direct investment, it has been spearheading this particular movement. The OECD has led the way in forging an international acceptance of international corporate governance principles and that is very important so that everyone is adopting similar principles and therefore understanding each other's signature becomes much more easier rather than more challenging. Besides OECD, we see the World Bank, Asian Development Bank, the United Nations and other international agencies have also promoted a series of regional forums of government. We have seen that improving competitiveness and access to capital and global markets was basically formulated in 1998 and was developed by the business sector advisory group and has been instrumental in promoting global corporate governance and also ensuring that the rules and regulations are more standardized and better comprehended by all of the stakeholders which is very important. The advisory group basically established three conditions as essential to corporate governance and adaptability. Number one, permissive regulation which allows for a range of ownership and contracting structures at the company level. So that was basically standardized and the permissive regulation was that the different options were created and then different economies or different organizations had to remain within the ambit or scope of that particular structure. Availability of alternate options for corporate governance arrangements, so again there was flexibility and there was adaptability and availability and then thirdly positive public attitude toward diversity and innovation in the area of corporate governance. So again involving the different stakeholders, involving the different sectors and ensuring that there is more positivity towards diversity and innovation and also ensuring that it would all be assimilated into the context of corporate governance whereby there would be uniformity of regulations and rules and laws and frameworks and that would be coupled by internationalization, globalization, financialization and also the palmization of corporate governance for the betterment of the global world. Thank you so much.