Main menu

Pages

Increasing the number of members of the Board of Directors of Misr Clearing House to "11", most of whom are experienced


Dr. Mohamed Omran, head of the Financial Supervisory Authority, revealed that the authority’s board of directors approved an increase in the number of members of the board of directors of the Misr Central Clearing, Depository and Registry Company for Securities to 11 members.

 

Omran also revealed the approval of the Board of Directors of the Financial Supervisory Authority, at its meeting this morning, to issue a new decision regarding the provisions regulating the formation controls, conditions and procedures for candidacy for the presidency and membership of the Board of Directors of the Central Securities Depository and Registry Company.

 

Omran said in a press statement today, Sunday, that according to the board’s decision, the number of the company’s board of directors has become 11 members, the majority of whom are experienced and non-executive, provided that at least two of them are independent members, and the number of seats allocated has become The company members have 5 seats, two for brokerage firms and two for custodians, next to a seat for the representative of the Egyptian Stock Exchange.

 

The Chairman of the Financial Supervisory Authority added that the Board had decided to reinstate its Resolution No. (96) of 2014 issued regarding the rules and criteria for candidacy for the presidency or membership of the company’s board of directors, in a manner that does not conflict with some other new provisions that have been added to reorganize the matter in a more disciplined manner, including the rules Governance of companies operating in the field of non-banking financial activities. The decision of the authority’s board of directors will be published in the Egyptian Gazette, in preparation for opening the door for candidacy for the elections of the board of directors of the Misr Clearing Company.

reactions

Comments