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The First meeting of the EIoD’s Board of Trustees was Held in its new Formation

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• The EIoD’s Board of Trustees emphasizes the importance of governance in developing the market and attracting investments
• Sherif Samy: We look forward to the active role of the EIoD’s Board of Trustees in consolidating governance principles
• The EIoD’s Board of Trustees includes 7 members having great experience in governance, law and accounting
• The Egyptian Institute of Directors (EIoD) affiliate of the Egyptian Financial Supervisory organized 131 training activities over 4 years

Sherif Samy- EFSA’s Chairman emphasized that governance and transparency are among the most important elements of management in public and private companies. He pointed out that all advanced financial markets as well as emerging markets that seek to grow and attract a larger segment of investments are keen to enhance their governance concepts and improve their requirements.

On the occasion of holding the first meeting of the EIoD’s Board of Trustees, EFSA’s Chairman noted that over the last four years, the EIoD has organized 131 workshops and training programs where 2060 participants attended these events especially from company’s boards of directors, CEOs and Investor Relations Directors. He pointed out that the EIoD’s activity extended beyond Egypt, where events were organized in Oman, Saudi Arabia, Kuwait and Jordan.

EFSA’s Chairman pointed out that the EIoD’s is the competent authority in Egypt to disseminate the principles of governance and develop the skills related to applying corporate governance , provide consultancy and implement training programs directed to the Heads and members of companies’ BOD , banks and senior managers. He emphasized  that the EIoD issued less than a year ago the Egyptian Guide to Corporate Governance which is the third comprehensive update of corporate governance since 2005. This guide represents the general framework of governance and other topics related to rational and transparent management. In addition, it includes a set of guidelines in accordance with international and regional best practices to be applied in private and public companies. Also, it is a reference to be referred to upon preparing legislations and regulatory instructions related to governance applications.

The new formation of the EIoD’s Board of Trustees includes Sherif Samy as a Chairman, counselor – Reda Abdul Muti, EFSA’s Vice Chairman , Mona Zobaa, CEO –  General Authority For Investment and Free Zones, Dr. Khalid Seri Siam, legal expert and former Stock Exchange Chairman, Heba El Serafi, Head of Disclosure Division, Egyptian Stock Exchange , Muhannad Khalid, Auditor and Abla Khairy -Director of Investor Relations – CIB.

 Gamal Khalifa, Executive Director of the Egyptian Institute of Director said that the Board of Trustees is responsible for setting the general policies of the EIoD, approving its plans, monitoring performance, approving the financial and administrative regulations governing the course of work, in addition to identifying services’ fees   for the services offered by the EIoD and adopting the rules of using national and foreign experts in training, consulting and research and setting the cost that is needed upon seeking the help of  these experts.

He pointed out that the EIoD’ s most important program is “Certified Board Member Certificate” and “Investor Relations Managers” program.
 

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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