After the transfer of our affiliation to The Egyptian Financial Supervisory Authority EFSA, The Egyptian Institute of Directors EIoD participated with providing support to The Corporate Governance Club CGC – The American University in Cairo AUC, in the CGC Second Annual Corporate Governance Competition.
It is worth mentioning that the CGC is the first Egyptian student- based academic club at the AUC. It aims at encouraging interdisciplinary dialogues among students of business, management, finance, economics, and accounting who share a common interest in working in fair and transparent corporate governance environment. Its mission is promoting Corporate Governance literacy, enhancing the notion of business ethics, increasing the awareness of the tools of combating corporate financial corruption and emphasizing the importance of financial transparency.
The inauguration of the CGC moderated by Dr. Ahmed Abdel-Meguid, Assistant Professor of Accounting and CGC Academic Supervisor, and Noaman Khalid Samir – this year CGC President.
The Opening ceremony of the workshop was held on Thursday 8th, March 2012. Dr. Ashraf El Sharkawy -Chairman of the Egyptian Financial Supervisory Authority and Chairman of the Board of Trustees of the EIoD delivered his speech indicating roll of the EFSA in supervising and regulating non-banking financial markets and instruments, including the Capital Market, the Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization. And EFSA's role is to regulate the market and ensure its stability and competitiveness to attract more local and foreign investments,
also he mentioned the roll of the EIoD in speeding the awareness of corporate governance in Egypt and the MENA region, and in supporting all the promising student-based initiatives that seek to increase and assure the importance of the youth roll in making a positive changes in the Egyptian community, emphasizing his full support to this fruitful initiatives, pointing out the necessity of increasing the students knowledge with the practices occur on business community and then corporate governance in order to build the base of the rising generation who will be able to improve the performance of Egyptian companies and the economy as a whole.
At the end of the competition and at the closing ceremony Eng. Mohamed El Sawy – CSR Committee Head, Egyptian Junior Business Association, delivered his speech, assuring the roll of youth in such student-based initiatives like these, in working on combating corruption in the Egyptian community, where it is the only way to get an unimpaired atmosphere filled with the spirit of fair play, justice, integrity and transparency.