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Formation of the Board of Trustees of the Egyptian Institute of Directors

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• Sherif Samy: we look forward to an active role of the Board of Trustees of the Egyptian Institute of Directors in establishing the principles of corporate governance
• Board of Trustees of the Egyptian Institute of Directors includes seven members of expertise in governance, law and accounting

Sherif Samy- EFSA’s Chairman revealed that EFSA’s BOD issued a decision to form the Board of Trustees of the Egyptian Institute of Directors, which is the concerned Body in Egypt that spreads corporate governance principles, develops skills related to its application, provides consultations and prepares training programs for Heads and  Board members, banks and senior managers.

The Board of Trustees includes Sherif Samy – Chairman and Counselor/ Reda   Abdel Muti- Vice Chairman Dr. / Khaled Serry Siam-  Legal expert and former Chairman of the Stock Exchange and Mona Zoba – Vice- President of the General Authority for Investment  and Heba Serafy- Head of Disclosure at the Egyptian Exchange and Mohannad Khaled – auditor and Abla Khairy -Director of Investor Relations – CIB.

EFSA’s Chairman explained that the Board of Trustees sets  the  general policies of  the Egyptian Institute of Directors , approves its plans ,follows –up the  performance , approves the  financial and administrative regulations governing the conduct of work , also, it  sets  services’ fees  provided by the  Egyptian Institute of Directors. In addition, it approves the rules set for taking advantage of national and foreign expertise in the field of training, consultancy and research and  identifies the fees set for that issue.

Gamal Khalifa, Executive Director of the Egyptian Institute of Directors – an independent unit belongs to EFSA – stressed that  the Egyptian Institute of Directors  is unique Body  in Egypt and the Arab region since its establishment  in 2003. He stated  that last August the Egyptian Institute of Directors issued the “Egyptian corporate governance Guide”. This was the third version of the first integrated update governance rules since 2005. This guide is the general framework of governance and topics related to the rational and transparent management. In addition, the guide includes a set of guidelines in accordance with the best international and regional practices in private and public companies. He added that this guide will be referred to upon the issuance of any legislations or regulations related to corporate   governance applications.

It is worth mentioning that the Institute provides services to companies and financial institutions operating in corporate governance and enforcement. The most important programs offered by the institute is the “certified Board member” and the “investor relations manager”.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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