- 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.
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.
- 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.
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.
- 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.
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.
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.
- 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.
- 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.