Friday, April 16, 2021

The Egyptian Directors Center launches an initiative to support women to take a seat on corporate boards of directors

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The Board of Trustees of the Egyptian Center of Directors, in its meeting chaired by Muhammad Omran, President, approved the initiative to support women and grant groups of applicant women to pass the specialized center program “Certified Board Member Certification” at a 50% discount.

Dr. said. Omran, Chairman of the Board of Trustees, announced that the announcement of this initiative comes within the framework of the efforts of the training arms of the Financial Supervision Authority – including the Egyptian Center for Directors – to empower women and enhance their role in the national economy.

He explained that the initiative is working on this by facilitating obstacles to her assuming leadership positions and occupying positions that enable her to take decisions in companies and bodies subject to the Authority’s control, after what the Authority’s Board of Directors had obligated companies listed on the stock exchange and subject to the Authority’s control of the necessity of having at least a female component in their boards of directors. It provided these women cadres with an electronic platform to register their data to provide a database to companies about qualified women to occupy a seat on the boards of directors of companies.

The Chairman of the Board of Trustees continued that the center plays a vital role in capacity building by training and qualifying female cadres in the areas of governance, social and environmental responsibility, to achieve corporate sustainability.

He pointed out that the implementation of 71 training programs with a total of 1,128 trainees in 2020 had a positive impact in achieving the fifth goal of the authority’s strategy, which is to improve levels of governance and good management and strengthen the institutional framework despite the emerging COVID-19 pandemic.

He mentioned that the program for women, presented under the title “Certified Board Member Certificate” with the support of the International Finance Corporation (IFC) at the World Bank Group, contributes to supporting and increasing the qualification of women in the business community and qualifying women in a scientific and practical way to join the boards of directors.

During the meeting, Dr. Omran, the executive management of the center, stressed the importance of forming multiple partnerships within the business community, and the women’s links it contains to develop the capabilities of women in various fields to enrich the authority’s database with qualified women cadres to assume leadership positions.

In a related context, Dr. Muhammad Mustafa Suleiman, CEO of the Center, explained that the specialized program is designed on 5 parts that require 60 training hours, at a rate of 12 training hours for each part.

It is worth noting that the Egyptian Center of Directors affiliated to the Financial Supervision Authority is the leading center in Egypt and the Arab region since its establishment in 2003 as the first training, research and consulting center to provide its services to public and private companies operating in Egypt and the MENA region with the aim of spreading awareness of the principles of governance, social and environmental responsibility to achieve sustainability. The desired business is through the conferences, seminars and workshops it holds, as well as the training, advisory and research programs it offers, and the professional master’s programs in governance.

The article The “Egyptian Directors” Center launches an initiative to support women to occupy a seat on the boards of companies.

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