Regulatory Alerts2017-01-01
Decision of the Minister of Investment and International Cooperation No. 95 of 2017 on Rules for Electing Egyptian Exchange Board Members from Securities and Listed Companies
The Egyptian Minister of Investment and International Cooperation issued Decision No. 95 of 2017 to establish the rules and procedures for directly electing representatives of securities firms and listed companies to the Board of Directors of the Egyptian Exchange. The regulation mandates specific eligibility criteria, including a minimum two-year operational history for securities firms and a two-year listing period for issuers, while restricting board representation to qualified chairpersons or authorized delegates with clean legal and professional records. It further outlines the nomination process, committee oversight, voting mechanisms, objection procedures, and succession rules for board vacancies, explicitly repealing the previous 2013 ministerial decision.