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The Egyptian Institute of Directors

The Egyptian Institute of Directors is Made Part of the Financial Supervisory Authority Instead of the Ministry of Investment
The Institute is Responsible for the Promotion of Corporate Governance In late November 2011 the Chairman of the Supreme Military Council issued Decree Number 251 of 2011 – which has the legal power of a Presidential decree – (Official Journal – Issue No. 48, December 1st, 2011) providing for the transfer of the Egyptian Institute of Directors (“EIOD”) from the Ministry of Public Business Sector (previously Ministry of Investment) to the Egyptian Financial Supervisory Authority (“EFSA”) as well as all those employed by it. The EIOD was originally established to be an independent center for the promotion of corporate governance and for providing training and support in this subject matter. It was therefore intended to become independent after some time of its establishment. Transferring it to the EFSA will give it some stability after almost one whole year of confusion and inactivity, but will delay its becoming a truly independent civil society entity in the way that it was originally envisaged.
The Institute is Responsible for the Promotion of Corporate Governance In late November 2011 the Chairman of the Supreme Military Council issued Decree Number 251 of 2011 – which has the legal power of a Presidential decree – (Official Journal – Issue No. 48, December 1st, 2011) providing for the transfer of the Egyptian Institute of Directors (“EIOD”) from the Ministry of Public Business Sector (previously Ministry of Investment) to the Egyptian Financial Supervisory Authority (“EFSA”) as well as all those employed by it. The EIOD was originally established to be an independent center for the promotion of corporate governance and for providing training and support in this subject matter. It was therefore intended to become independent after some time of its establishment. Transferring it to the EFSA will give it some stability after almost one whole year of confusion and inactivity, but will delay its becoming a truly independent civil society entity in the way that it was originally envisaged.