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Economic & Sector Work :: Corporate Governance Assessment (ROSC)

Corporate Governance Country Assessment : Arab Republic of Egypt

ADMINISTRATIVE PROCEDURES ADVISORY SERVICES ASSET VALUE AUDIT COMMITTEES AUTHORIZED CAPITAL BALANCE SHEET BALANCE SHEETS BANKRUPTCY BENCHMARKS BOARD MEMBERS BOARD OF DIRECTORS BOARDS OF DIRECTORS BRANCHES CAPACITY BUILDING CAPITAL INCREASE CAPITAL INCREASES CAPITAL MARKET CAPITAL MARKET AUTHORITY CAPITAL MARKET LAW CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CENTRAL BANK CLASSES OF SHARES CONFLICT OF INTEREST CONFLICTS OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATION CORPORATIONS COST OF CAPITAL DEBT DISCLOSURE DISCLOSURE REQUIREMENTS DISCLOSURE RULES DISTRIBUTION OF DIVIDENDS DOMESTIC INSTITUTIONAL INVESTORS DOMESTIC RETAIL ECONOMIC REFORMS ECONOMIC SECTORS ENVIRONMENTAL LAW EXECUTIVE REGULATIONS EXPROPRIATION EXTERNAL AUDITORS FAIR MARKET VALUE FINANCIAL STATEMENTS FIRMS FOREIGN SECURITIES FOREIGN TRADE GDP GLOBAL DEPOSITORY GROUP OF SHAREHOLDERS HOLDING COMPANIES HOLDING COMPANY INSIDER INFORMATION INSIDER TRADING INSOLVENCY REGIME INSTITUTIONAL INVESTORS INTERNATIONAL COMPANIES INTERNATIONAL FINANCE INVESTMENT LAW INVESTMENT MANAGEMENT INVESTOR RELATIONS ISSUE PRICE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JURIDICAL PERSONS LEGAL FRAMEWORK LIMITED LIABILITY LIMITED LIABILITY COMPANY LIQUIDATION LISTED COMPANIES MARKET CAPITALIZATION MARKET INFORMATION MARKET SHARE MARKET STRUCTURE MERGERS MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS NET ASSET VALUE OWNERSHIP STRUCTURE PAID IN CAPITAL PENSION FUNDS PORTFOLIO PORTFOLIO MANAGEMENT PREFERENCE SHARES PREFERRED STOCK PRIVATE PENSION PRIVATE SECTOR PRIVATIZATION PUBLIC ENTERPRISES PUBLIC FLOTATION PUBLIC INTEREST PUBLIC OFFERING PUBLIC SECTOR PYRAMID STRUCTURES REGULATORY FRAMEWORK SHARE CAPITAL SHARE OWNERSHIP SHARE PRICE SHARE PRICES SHAREHOLDER MEETINGS SHAREHOLDERS RIGHTS SHAREHOLDING STAKEHOLDERS STATE OWNERSHIP STATEMENT STATEMENTS STOCK EXCHANGE VALUATION
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Washington, DC
Middle East and North Africa | Egypt, Arab Republic of
2013-08-09T21:41:32Z | 2013-08-09T21:41:32Z | 2001-09

Egypt's corporate governance system is framed by French civil law for corporations. Sharia law has no direct influence on corporate governance. Anglo-American influence is prevalent in the securities depository law and the new capital markets law shortly to be introduced to Parliament. There is one stock exchange with two trading floors: The Cairo and Alexandria Stock Exchange (CASE) which has three tiers. Eighty seven percent of listed companies are trading on the second or third tier (unofficial exchange). Interest in corporate governance is rising - the draft capital markets law includes a chapter on minority shareholders rights. This Report on the Observance of Standards and Codes benchmarks the Egyptian corporate governance system against the OECD Principles of Corporate Governance; according to the Financial Stability Forum, one of the twelve core standards underpinning the international financial architecture. The assessment highlights a number of areas where Egypt's corporate governance system needs strengthening. These can be grouped under six headings: disclosure of ownership and control structures; disclosure of financial and non-financial information; training and capacity building for regulators and the private sector; role and effectiveness of shareholders' meetings; practices of boards of directors; and, professional conduct of auditors.

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