Board Committees

Executive Committee

The Executive Committee oversees Banque du Caire’s corporate and investment portfolio with the aim of ensuring quality and allocation of funds in line with overarching strategic goals.
The executive committee met 34 times in 2019.

Main Responsibilities

The Executive Committee meets once every week to deliberate and take decisions to:

Study and take decisions related to finance and credit facilities, within the powers vested in the Committee, according to the rules of lending approved by the BoD.
Express opinion on classification of finance and credit facilities extended by the Bank to its customers, their relevant proposed provisions, and the evaluation reports on contribution to corporate equities.
Express its opinion on modifying the organizational and job structure of the Bank and the regulations and systems governing the scope of work.
Exercise functions defined in the Bank’s regulations.
Follow up on the execution of the Bank’s strategy and achieving the budget.
Studying and approving New banking products.

Audit Committee

The Audit Committee assists the board in fulfilling its oversight duties regarding the Bank’s financial reporting process and internal control systems,
It supervises BdC’s internal audit process, compliance function, and external audit process.
The committee met 6 times in 2019.

Main Responsibilities

The Audit Committee meets once every quarter to deliberate and take decisions to:

Appoint external auditors and monitors its independence/objectivity.
Monitor the preparation of financial statements, ensures its accuracy and integrity and compliance with CBE regulations.
Internal audit function, ensuring the effectiveness of the internal reporting system.
Pursue the implementation of corrective measures in respect of reported comments.
Ensure that the Bank is applying the KYC policy and the CBE’s AML policy.
Monitor the application of CBE’s governance code.

Risk Committee

The Risk Committee oversees the Bank’s risk assessment and management functions, ensuring compliance with board-approved risk strategies and policies.
The committee met 4 times in 2019.

Main Responsibilities

The Risk Committee meets at least once every month to deliberate and take decisions to:

Advise the board on the overall risks faced by the Bank, including portfolio risk rating and concentration market and operational risk.
Enhance risk strategies to mitigate different types of risks.
Measure the Bank’s capital adequacy and ensure that CBE limits for capital requirements are met.
Oversee current / future risk exposure (including fluctuations in interest rates, currencies, product pricing and competition).
Advise the board on strategic transactions [acquisitions / new ventures]. Monitor the geographic expansion risk.
Recommends Chief Risk Officer appointment.

Corporate Governance and Nominations Committee

This committee assists the board in its general governance oversight responsibilities and its effort to promote a culture of integrity and rigorous corporate governance within BDC.
The committee assists in identifying and nominating candidates for director positions.
The committee met 4 times in 2019.

Main Responsibilities

The Governance & Nomination Committee meets at least once every quarter to deliberate and take decisions to:

Evaluate the bank’s corporate governance strategy and ensure compliance with CBE code.
Evaluate composition / organization of the board and its committees.
Recommend candidates to the board.
Performance assessment and staffing needs of the BoD.
Evaluates the performance of the current board members for purposes of re-election.
Succession planning for BoD / management.
Review annual reports to ensure compliance with relevant governance requirements and disclosures.
Prepare Governance Annual Report.

Remuneration Committee

The Compensation Committee advises the board on appropriate compensation for board members and executive officers.
This committee ensures that BdC’s compensation schemes are consistent with the Bank’s strategic goals and that they enable the institution to recruit and retain top talent.
The committee met 5 times in 2019.

Main Responsibilities

The Compensation Committee meets at least once every quarter to deliberate and take decisions to:
Set and recommend the overall salary structure for management / board.
Review and benchmark the Bank’s compensation competitiveness vs. peers.
Oversee the design of all employee benefit plans and programs applied within the Bank.
Recommend to the board new cash-based and / or equity-based compensation plans.
Review suggestions provided by executive management regarding any updates or amendments to current employee.
Disclose the total compensation for the top 20 earners.