2021-11-11

A circular dated November 11, 2021 amending some governance provisions regarding the formation of the Council

The letter, dated November 11, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to the Central Bank's decision to amend the Corporate Governance Instructions for banks issued in 2011, emphasizing the importance of qualified board members with diverse skills and experiences, gender diversity, and a majority of non-executive members. The amendments include changes to the composition of the board, the separation of roles between the Chairman and the CEO, and the duration of non-executive board membership.

Egypt

Central Bank of Egypt

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