Regulatory Alerts2021-01-01
Circular Letter No. 7 of 2021 Regarding the Representation of Women on Boards of Directors of Non-Banking Financial Companies and Egyptian Exchange-Listed Companies
The Financial Regulatory Authority issued Circular Letter No. 7 of 2021 to clarify the optional compliance obligation for Egyptian Exchange-listed and non-banking financial companies regarding female board representation. The circular specifies that these entities may satisfy the requirement by either appointing at least two female directors or ensuring women constitute no less than 25% of their board compositions. This clarification aligns with the Authority's Decisions No. 109 and 110 of 2021, reinforcing market stability and supporting Egypt Vision 2030's sustainable development goals for women's leadership.
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