On April 26-27, 2016 the Egyptian Banking Institute (EBI) held a Training Program on Best Practice in Corporate Governance Reporting at its headquarters in Nasr City. The training program was delivered by Geoffrey Mazullo, Principal, Emerging Markets ESG. This was the second time that Mr. Mazullo delivered this specialized training course for the EBI.
11 participants from compliance, corporate communications, corporate governance and risk management departments of eight Egyptian banks attended the training program.
The training program was designed and conducted didactically, with a focus on mastering skills and tools which participants could apply in their day to day work. It included a mix of exercises, case studies, group assignments, individual assignments, methodologies, presentations, surveys and templates.
Case studies demonstrated real life disclosure practices of banks, insurance companies, financial institutions and listed companies.
Presentations covered the following subjects: corporate governance – compliance, disclosure and common practice; the corporate governance framework for Egyptian banks – concepts, definitions, documents and institutions; and corporate governance reporting – international standards, Egyptian standards and best practice. A wealth of data from surveys and reports about corporate governance reported was presented; participants analyzed and debated the findings.
After analyzing the Egyptian legislative and self-regulatory framework for bank governance, each participant created a diagram of the corporate governance structure of her/his bank.
Then, in small groups, participants analyzed in detail the disclosure requirements for non-listed banks and for banks listed on The Egyptian Exchange (TEX). Using the information analyzed and didactic skills acquired through the training program, each participant created a calendar of disclosure requirements, referencing each disclosure to legislative requirements, the corporate governance diagram and the business case for disclosure.
In April 2016 Mr. Mazullo conducted a second survey of the English-language websites of the 40 banks registered with the Central Bank of Egypt as of December 2016. An inaugural survey was conducted in October 2012. During the final session of the training course, Mr. Mazullo presented the survey results, comparing the April 2016 results with the October 2012 results and presenting a wealth of best practice examples. Participants analyzed the survey results and discussed best practice in online corporate governance reporting by banks in Egypt.
In addition to the training program materials, participants received a detailed bibliography of articles and resources about corporate governance reporting.
Click here to open the flyer describing the training course.