Banque du Caire adheres to a comprehensive corporate governance framework that guards the interests of stakeholders and the integrity of its brand. The Bank complies with all laws and regulatory requirements in the Egyptian market / CBE governance code and requires that employees embody the highest standards of ethical behavior in the workplace. BdC has recently took steps to strengthen its governance framework through implementing new structures and strategies to better support its Board of Directors, Executive Management Team, and Governance and Nominations Committee
Key board of directors responsibilities are:
- Define corporate strategy and goals.
- Set responsibilities and accountability of management.
- Setting KPIs for monitoring CEO performance.
- Expansion plans, major ventures and financing decisions.
- Meet regularly oversee operations and management.
- Communication with shareholders.
Overview on BdC’s corporate governance strategy
- Implementing governance requirements of the highest international standards.
- Adhering to an institutional culture that motivates the board members, executives, officials and all employees to improve the efficiency of the Bank's activities and operations.
- Adoption of a comprehensive set of policies and procedures.
- Empowering the board committees to play an important role in supporting the BoD during the decision making process. These committees submit their reports directly to the Board of Directors in order to assist them in carrying out their duties in the best possible manner and to improve their efficiency without prejudice to the provisions of the law.
Anti-Money Laundering compliance overview
- Worked as the second line of defense, and also responsible for monitoring the controls of the business
- Develop and implement screening programs.
- Customers sanctions screening against Local and international lists.
- Transactions sanctions screening against local and international lists.
- Identifying high-risk operations.
- Developing and maintaining of system’s metrics reporting.
- Timely updates to implement changes in regulations reflecting it in AML policies, procedures, and controls.
- Implement risk-based CDD policies, procedures and processes.
- Providing sufficient controls and monitoring systems for the timely detection and reporting of potentially suspicious activity.
- Develop and implement quality assurance testing to assess the effectiveness of the AML/CFT program’s implementation and execution.
- Establish training requirements and standards in order to ensure that employers are aware and understands of the procedures.
Two main administrations
Anti-money laundering & counter-terrorist financing administration’s main purpose:
- Monitor and provide a comprehensive case workflow and investigation tools for analysing the alerts generated to protect the bank against compliance risks.
- Monitoring and control risks shall be established and applied on a risk based approach; as such certain monitoring and control methods are carried out by the AML unit while others are carried out by branch compliance officers.
Systems & embargo administration’s main purpose:
- Screening to customer and all aspects of daily transactions against OFAC, UN, EU, Local sanction lists and our internal list, to identifying people and organizations who are subject to sanctions.
- Real time monitoring of payment transactions to detect and stop all transactions whose sender, receiver, and any involved party match entries in sanction lists.
- Transactions that return matches are analyzed in the integrated case management system.