Corporate Governance

Corporate Governance

SAIB approaches Corporate Governance as the integrated discipline under which we operate and exist. Our solid belief that Corporate Governance is the sole road to creating and maximizing value for all stakeholders affected by our existence as a business entity, provides the helm for directing and controlling the way we do business.

SAIB’s Board of Directors promotes integrity and ethical behavior via leading by example and plays the key role in endorsing our bank strategy, developing directional policy, appointing, supervising, and remunerating Senior Executives,and ensuring the bank’s accountability to its investors and authorities.

Our comprehensive code of conduct asserts and provides a guide to sustaining and having an ethics-driven community.

SAIB respects shareholders’ rights and helps them exercise those rights by communicating understandable and accessible information for effective participation in general meetings.

Accountability is key to our Corporate Governance practices, holding those in power accountable for their actions. To ensure accountability, our Board composition ensures diversity, Chairman duties, and CEO duties are separated, ensuring dispersion of authority and fostering a culture of full disclosure to build trust.

SAIB’s CG framework rests on solid pillars represented in our prominent Board of Directors and Senior Management, Internal Audit matrix ( Compliance, Risk and Internal Audit), and our commitment to transparency and disclosure.

SAIB bank adheres to the Central Bank of Egypt guidance and regulations to effective Corporate Governance practices to ensure the well-being of the Banking Sector and the Egyptian Society as a whole.

SAIB Board of Directors

Mr. Mohamed Naguib Ibrahim
Chairman & Managing Director

Mr. Naguib has more than 35 years of extensive experience in the banking & finance industry at both operational & managerial levels, during which he assumed several senior leadership positions. Mr. Naguib was Vice Chairman of Banque Misr, Board Member & Head of Risk Management at National Bank of Egypt, Managing Director of International Company for Leasing (Incolease), and General Manager of Credit & Risk Management at MIBank. Mr. Naguib is currently a Board Member of various distinguished institutions in Egypt. Furthermore, Mr. Naguib had the honor of lecturing on Banking Management & Credit Analysis at the American University in Cairo for several years. He also contributed in amending the Egyptian Financial Leasing Law and further introducing its provisions at the economic committee of the Egyptian Parliament.

Mr. Hassan Hosni Ibrahim Abdel Meguid
Vice Chairman & Managing Director

Mr. Abdel Meguid is the Vice Chairman & Managing Director responsible for fulfilling the bank’s strategy through the development of executive plans that ensure efficient resources management. He has over 35 years of experience in the banking sector, during which he assumed numerous executive positions in several banks, starting with the Arab African Int’l Bank in 1975 where he joined the International Investment and Finance Division, followed by the Credit International d’Egypte Bank in 1978. Mr. Abdel Meguid then joined MIBank (1981-1999). Prior to joining SAIB Bank as the Executive General Manager in 2004, he was the General Manager of Credit and Marketing at the United Bank of Egypt (UBE). Mr. Abd El-Meguid was elected in 2005 till date as Board Member & Treasurer of the Federation of Egyptian Banks, as well as being a Board Member of International Company for Leasing “Incolease.” In 2009, Mr. Abdel Meguid was appointed Board member at the Egyptian Competition Authority representing the Banking sector.

Dr. Mahmoud Abou El Oyoun
Independent Member of the Board

Dr. Abou El Oyoun holds a Ph.D. degree of Philosophy in Economics. He is the Economic Advisor for the Arab Fund on Economic and Social Development and founder and CEO of Guardian Security System Company since 2012. Dr. Abou El Oyoun was the CEO for Kuwait International Bank (2010-2011) and Advisor to the Kuwaiti Minister of Finance (2006-2010). Dr. Abou El Oyoun was appointed the Governor of the Central Bank of Egypt (CBE) (2001-2003) after playing different leading positions at the CBE. He successfully established the Egyptian Money Laundering Combating Unit (EMLCU). Dr. Abou El Oyoun was also the Egyptian Governor of Arab Monetary Fund (2001-2003) as well as the Egyptian Governor of the African Development Bank. He was the economic and financial advisor for several ministers and economic and financial institutions in Egypt and abroad. He is a member of board of directors in several entities. Dr. Abou El Oyoun is the author of numerous books as well as academic papers and research, and he is also a professor of economics at the University of Zaqaziq.

Mr. Mohamed Gamal Moharam
Independent Member of the Board

Mr. Moharam is the Country Head El-Futtaim Group. The Chairman of MGM Banking & Financial Consultants, the Egyptian Company for Mutual Funds Management, and Cairo Factors Company. Mr. Moharam was CEO and Managing Director of Piraeus Bank Egypt, formerly Egyptian Commercial Bank (2002-2008) and Chairman of the American Chamber of Commerce in Egypt (2006-2008). Since graduating from the Commerce Department of Cairo University in 1974, Mr. Moharam has focused his career on the banking industry, from a credit and marketing officer at Citibank, to Assistant Vice President of Fleet National Bank and Chief Representative of the Bank of New York in Cairo, to his position in Piraeus Bank. Mr. Moharam is a member of various business chambers and federations and board officer for a number of prominent socially responsible institutes. He has been a board member of several organizations.

Mr. Essam El Din Mohamed El Wakil
Independent Member of the Board

Mr. El Wakil has many years of diversified experience in the financial sector, including treasury, capital markets, Islamic banking, and investment banking. He was a board member and Managing Director at the Arab International Bank (AIB) in 2014. Mr. El Wakil held several managerial and executive positions at the Commercial International Bank (CIB) (2008-2013) until he was appointed a member of its board of directors. Previously, Mr. El Wakil held several executive positions at the ABC Islamic Bank across several countries until he was appointed the Director and a member of its board in 2005. He was also a board member at the Federation of Egyptian Banks.

Mr. Atef Ali Ibrahim El-Sayed
Independent Member of the Board

Mr. Ibrahim was the Managing Director of Banque du Caire, a member of its board and the Executive Committee, and Head of the Asset Liability Committee. He was the first sub Governor of the Central Bank of Egypt in charge of foreign exchange interbank, monetary policy implementation, reserve management, and external debt. Mr. Ibrahim has gained extensive experience in the banking industry in both local and international markets. He acted as the General Manager and Senior Investment Officer of Arab International Bank in Cairo, Vice President and Investment Consultant at Merrill Lynch in both London and Bahrain, and Investment Consultant at Lehman Brothers in Bahrain. He also served as Head of Treasury at Gulf Riyad Bank in Bahrain as well as Arab African International Bank in Cairo. Mr. Atef holds an MBA from the American University in Cairo in Business Finance and completed his Investment Certification with the (NYSE), the (NASD), and the (CBOT).

Mr. Mohamed Mohsen Salah El Din Adel Abdel Wahab
Chairman & CEO
The Arab Contractors Company

Mr. Mohsen held several managerial positions at Arab Contractors Company (Osman Ahmed Osman & Co.) until he was appointed the company’s Chairman and CEO. Before that, he was the Head of the National Authority for Drinking Water and Sanitation. He also was the Chairman of the Arab Contractors Employees Insurance Fund, Chairman of Elite Company for Tourism Development, and a board member of Metro Company for Touristic Buildings. He is also a member of several business councils and chamber of commerce.

Mr. Adel Ahmed Mousa
Chairman and CEO
Misr Insurance Company

Mr. Mousa is a successful leader and has played an active role in leading Misr Insurance Company through both prosperous and challenging times among other accomplishments covering many areas in the insurance field. Mr. Mousa holds a Ph.D in Economics and Foreign Trade from Helwan University and has attended many local and international conferences, seminars, and trainings in diversified business areas.

Mr. Mohamed Ghazy Saber Ibrahim
Misr Life Insurance Company

Mr. Ghazy Saber holds a Ph.D. in insurance and is currently the head of the Mathematics and Insurance Department at the faculty of Commerce-Cairo University. He served as an advisor to several ministers in Egypt and abroad. He was a member of the committee on insurance at Kuwaiti Ministry of Trade and Industry (2003-2005) and participated in drafting laws and regulations for the insurance sector as well as setting regulations for establishing new insurance companies in the Kuwaiti market.

Mr. Mohamed Essam Eldin Mohamed El-Khateeb
Assistant CEO
The Arab Contractors Company

Mr. El Khateeb has more than 35 years of experience in the financial sector and has held several senior managerial positions at the Arab Contractors Company. He was appointed the financial manager in the company’s branches in different countries where he was the Financial Project Manager in Egypt, Saudi Arabia, Mauritania, & Algeria. Currently he is the assistant CEO.

Mrs. Nagwa Ibrahim Mansour
Independent Member of the Board

Mrs. Ibrahim has more than 25 years of vast experience in diversified business and investment areas. She holds an MBA from Arab Academy for Science Technology and Maritime Transport. She attended various business courses from reputable institutions that all qualified her to be appointed the Head of Investment Sector at Misr Insurance Company, one of the largest insurance companies in Egypt.

SAIB Board Committees

Audit Committee

The Committee supervises the bank’s regulatory functions and Internal Audit (in accordance with article 82 of Law 88 for the year 2003). The committee is constituted according to Article No. (82) of the Law No. (88) for the year 2003 and consists of three non-executive board members who have the experience, knowledge, and expertise in the financial and accounting fields.

Risk Committee

The Committee controls and follow up the bank’s risk management functions and its compliance with strategies and policies adopted to manage risk.

Corporate Governance and Nomination Committee

The Committee’s primary purpose is to develop and recommend to the Board corporate governance policies and guidelines for the Bank, also identifying, nominating director and committee member candidates for election to the Board and appointment to committee membership. The committee ensures the application of Corporate Governance rules. The committee is comprised of three non-executive members.

Compensation and Remuneration Committee

The purpose of the Committee is to study salaries and bonuses and review policies and regulations related to salaries, allowances, bonuses, profit incentives and promotions.
The Committee reviews regulations governing the Board Members and employees advantages in sight of the anticipated objectives to be achieved and submits recommendations to The Board of Directors. The committee is comprised of three non-executive members.

Executive Committee

SAIB Executive Committee is constituted in accordance with the provisions of Article (82) of the Law No. (88) for the year 2003. The committee is comprised of nine members and is presided over by the chairman or his deputy. The main duties of the committee are stated under Article No. (29) of the Executive Statute of the aforementioned law.