Chairman of the Board of Directors

Decision of the Board of Directors of the Authority No. (160) of 2014

Dated 3/12/2014

Regarding the Formation of the Board of Trustees of the Supervisory Unit for Microfinance Activities of Associations and Civil Society Institutions

The Board of Directors of the Egyptian Financial Supervisory Authority;

Having reviewed the Presidential Decree-Law No. (141) of 2014 on the Regulation of Microfinance, issued as a law;

And on Law No. (10) of 2009 on the Regulation of Supervision over Non-Banking Financial Markets and Instruments;

And on Presidential Decree-Law No. (63) of 2014 concerning the Income Cap for Salaried Employees in State Agencies;

And on Prime Ministerial Decision No. (1265) of 2014 on the Executive Rules for the provisions of Presidential Decree-Law No. (63) of 2014 concerning the Income Cap for Salaried Employees in State Agencies;

And on Decision of the Board of Directors of the Authority No. (159) of 2014 concerning the Bylaws of the Supervisory Unit for Microfinance Activities of Associations and Civil Society Institutions;

And on the approval of the Board of Directors of the Authority in its meeting No. (21) held on 3/12/2014;

And on the nominations received from the Central Bank of Egypt and the Social Development Fund;

Decided:

(Article One)

The Board of Trustees of the Unit, which constitutes the trustees of the Supervisory Unit for Microfinance Activities of Associations and Civil Society Institutions, shall be formed as follows:

1. Ms. May Sharif Abu El-Naga, Representative of the Central Bank of Egypt
2. A representative of the Ministry of Social Solidarity, nominated by the competent Minister
3. Ms. Niveen Ali Badr El-Din, Representative of the Social Development Fund
4. Mr. Moataz Mohamed Hashem El-Tebaa, one of the leaders of associations and civil society institutions operating in the activity
5. Mr. Karim Victor Fannous, one of the leaders of associations and civil society institutions operating in the activity
6. Ms. Randa Ismail Fahmy, from among the experts

(Article Two)

Mr. Sherif Samir Samy - Chairman of the Egyptian Financial Supervisory Authority - shall preside over the Board of Trustees, and Mr. Gamal Abdel Aziz Khalifa shall serve as Vice-Chairman of the Board of Trustees.

(Article Three)

Without prejudice to the provisions regulating the income cap issued by Presidential Decree-Law No. (63) of 2014, and the executive rules issued by Prime Ministerial Decision No. (1265) of 2014, the financial treatment of the members of the Board of Trustees of the Unit shall be as follows:

• A net attendance allowance of 250 Egyptian pounds, and a net transportation allowance of 1,500 Egyptian pounds per session.
• An annual bonus determined by the Board of Directors of the Authority, not exceeding what members of the Board of Directors of the Egyptian Financial Supervisory Authority receive.

In all cases, the Chairman of the Egyptian Financial Supervisory Authority shall not receive any allowances or bonuses for his membership on the Board of Trustees.

(Article Four)

The provisions of this Decision shall take effect from the day following its issuance, and the competent authorities are tasked with its implementation according to their respective jurisdictions.

---

Chairman of the Board of Directors
Sherif Samy
46076

---

Egyptian Financial Supervisory Authority
Egyptian Financial Supervisory Authority

Office of the Chairman of the Board of Directors

---

7. Mr. Sherif Samir Samy, Representative of the Egyptian Financial Supervisory Authority
8. Mr. Gamal Abdel Aziz Khalifa, Representative of the Egyptian Financial Supervisory Authority
9. Dr. Iman Zakaria Hussein, Representative of the Egyptian Financial Supervisory Authority

The term of the Board of Trustees shall be two years, renewable.

---

70 Emad El-Din St. - Cairo - Egypt
Tel: (+202) 27737133
Fax: (+202) 25741000

P.O. Box: 618 - Postal Code: 11111
Email: info@efsa.gov.eg
Website: www.efsa.gov.eg