Regulatory Alerts2016-01-01
FRA Board of Directors Resolution No. (84) of 2016
Issued by the Egyptian Financial Regulatory Authority's Egyptian Center for Directors, this 2016 update consolidates and modernizes Egypt's corporate governance framework to align with international best practices. It mandates a "comply or explain" approach for all listed and unlisted companies, financial institutions, and public or private entities, while detailing strict governance standards for shareholder assemblies, board composition, committee structures, internal controls, and comprehensive disclosure requirements. The guide establishes clear definitions, outlines fiduciary duties for directors and executives, and emphasizes minority shareholder protection, conflict of interest management, and corporate social responsibility to foster transparency and sustainable economic growth.