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FRA?s Chairman holds a meeting with pioneers of women on corporate boards initiatives – Wednesday 22/1/2020

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Dr. Mohammed Omran – FRA’s Chairman and his deputy Judge Khaled El-Nashar, met a number of women cadres interested in the file of women on corporate boards to exchange visions and international experiences. The meeting aimed at activating FRA’s decisions that were issued with the aim of giving women the opportunity to lead and participate in administrative decision-making and ensuring women representation on the boards of listed companies and companies operating in non-banking financial activities.

Dr. Omran emphasized that the meeting represents one of the communication links and bridges to activate the decisions issued by FRA’s BOD on ensuring female representation on boards of listed companies as well as companies operating in the field of non-banking financial activities. He added that these decisions came in line with FRA’s approach to achieve sustainable development goals and empowering women, stressing on the importance of teamwork and coordination with women leaders and founders of women’s empowerment initiatives and calling for their representation in boards of directors. He adds that an online platform will be launched and it will include database of qualified female cadres to hold leadership positions in companies under FRA’s supervision.

Dr. Omran added that the Authority seeks to extend the hand of assistance and support to companies in achieving the effectiveness of the presence of women on corporate boards and improving financial performance in these companies. In this respect, a database will be provided to choose from in accordance with the nature of each company’s work and directions, and pursuant to what the company’s leadership deems relevant and appropriate.

The meeting was attended by Dr. Ghada Howaidy Associate Dean – School of Business, AUC and founder of Women on Boards Observatory, Sally Abbas- Associate Director, Office of Corporate Governance at School of Business, American University. Besides, Ghada Hammouda – Chief Sustainability & Marketing Officer at Qalaa Holdings, Dina Abdel Fattah – Editor in Chief and Board Member of Amwal Al Ghad, Nahla Kamal, Executive Board Member and Head of Corporate Affairs Nestle North East Africa Region and Mai Ayyad, Program Officer, The Binational Fulbright Commission, along with a number of women leaders in the Authority.

Dr. Omran appreciated the efforts made by the American University Initiative to launch a database of competent women ready  to occupy a position on corporate boards. In this respect, this will expand the opportunity for many female cadres to appear in front of companies to choose among them.

Dr. Omran revealed that FRA will promote the American University initiative and concerted efforts with it so that the largest possible number of women qualified for leadership positions will be made available. He added that the authority’s training arms are keen to cooperate with specialized training authorities at the American University of Cairo’s College of Business Administration to train and qualify women from various sectors wishing to improve their capacities and capabilities in preparation for their nomination to join the database.

In this context, Dr. Omran calls upon the major companies and their wise leadership to communicate with the training and qualification bodies to create a new generation of pioneering women in various fields, in preparation for expanding the circle of choice for companies in order to provide a benefit to the public and advancement in different sectors.

It is worth noting that FRA’s Chairman has already announced the establishment of an electronic platform that includes a number of female cadres after being approved by a committee composed of senior officials and members of boards of directors of major institutions in Egypt, taking into consideration that half of the committee should comprise female members.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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