Compliance and Governance

Compliance and Governance

Corporate Values

The Export Development Bank of Egypt (EBE) Board of Directors and Executive Managers believe in implementing and exemplifying the highest standards and measures of compliance and governance in order to maintain the faith of our shareholder’s in our institution. Governance refers to a series of regulations and practices that dictate the relationship between the Board of Directors, the executive managers and the shareholders; it indicates the responsibilities and privileges of each party. Governance address the methods by which the board and upper management operate on a daily basis through: -

  • Establishing the bank strategy and setting its goals.
  • Handling daily operations and business
  • Striking a balance between adhering to the bank’s responsibility towards shareholders, protecting the interests of depositors, and taking the interests of other stakeholders into consideration
  • Ensure that the bank’s activity is conducted in a safe and sound manner and within the framework of compliance with applicable laws and regulations
  • Achieving the highest standards of corporate values, and is keen to integrate them and consolidate their foundations in the bank’s culture through a set of approved policies and procedures, which include
    • Rules of professional conduct
    • Dealings with related parties
    • Confidentiality and information security
    • Conflict of Interest
    • Reporting violations
    • Disclosure and transparency

The Board of Directors routinely ensure the bank’s adherence to all governance principles through periodic auditing and updating the rules of professional conduct with the aim of updating its corporate governance practices to comply with the regulatory requirements. Furthermore, the bank emphasizes the adherence to corporate values and other internal policies and procedures by all members of the Board of Directors, executive directors and employees of the bank.

Compliance

Monitoring the compliance with laws and regulations is considered to be one of the core responsibilities of the executive management and the board of directors.

The Compliance Sector in the bank is an independent function, and it is responsible for monitoring and preparing reports on the risks of non-compliance, which include the risks of legal or legislative penalties, fines, or damage to the bank's reputation as a result of failure to adhere to laws and provisions, the code of professional conduct and standards of good practices related to the government and the bank’s activities.

These legislations include local and international laws and instructions issued by the Central Bank of Egypt, whereby compliance with any directives or instructions issued by the supervisory authorities to which the bank is subject is monitored and followed up. Its tasks also include ensuring the implementation of legislation and laws related to combating money laundering and terrorist financing.

Combatting Money Laundry and Terrorist Financing

EBE is committed to combating money laundering and terrorist financing in accordance with the best practices in this field by using the latest global automated systems. These systems continuously monitor financial transactions and customer accounts to detect suspicious operations and evade any instance of money laundry or terrorist financing with a high degree of efficiency.