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Governance   

In the light of the increasing importance of applying good governance practices in economic activity, EGX was keen to promote best corporate governance practices among listed companies through the listing and disclosure rules, in addition to incorporating these practices within its institutional framework in order to lead by example.

In this context, EGX is considered one of the first public institutions to voluntary adopt governance application, whereby an independent Audit committee, following EGX Board of directors was established. The Committee’s role was activated in conjunction with the Internal Audit sector to ensure maximum efficiency.

EGX exerted sincere efforts to achieve more independency whereby two independent experienced members were added to board of the Egyptian Exchange (EGX).

Additionally, EGX submitted a proposal in 2017 stating that the Chairman of the Egyptian Exchange should only serve for two terms, so that the position would be continually renewed by new energy, ideas and insights. Accordingly, a presidential decree reflecting this proposal was issued in 2017. The decree also stipulated that there should be an elected representative from custodian banks among EGX board members. Accordingly, the number of elected board members will be more than the designated ones which will ensure more governance and higher efficiency.









 
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