CIB’s board of directors has eight standing committees that assist in fulfilling its responsibilities; six non-executive and two executive committees. Each committee chairperson is responsible for briefing the board of directors on the major issues raised by the committee that he or she chairs
Non-executive comittees
| Committee | Key Responsibilities | Members |
|---|---|---|
|
The Audit Committee |
The committee was established to provide oversight of the integrity of the Bank’s financial reporting process, the effectiveness of the Bank’s internal control system and its compliance with all statutory requirements. The Committee is also responsible for overseeing and reviewing the performance of the Bank’s Internal Audit and Compliance functions, as well as the work of the Bank’s external auditors to ensure the independence and objectivity of each, in addition to the quality of the applied processes and outcomes. |
Chair: Mr. Tarek Rouchdy Members: Mrs. Magda Habib; Mr. Paresh Sukthankar |
|
The Risk Committee Supervising risk management |
This Committee oversees risk management functions through periodic reports submitted by the Risk Group. The Committee assesses compliance, concurs and makes recommendations to the Board of Directors regarding risk management strategies, Bank’s Risk Appetite and risk related policies; including those related to (Capital Adequacy, liquidity management, various types of financial and non-financial risks: Credit, Market, Operation, Compliance, Reputation, and any other risks the Bank might be exposed to). |
Chair: Mr. Jay-Michael Baslow Members: Dr. Amani Abou-Zeid; Mr. Paresh Sukthankar |
|
The Compensation Committee Responsible for compensation of the BoD and theBank's executive officers |
This Committee was established to provide guidance to the BoD with regards to the appropriate compensation for the BoD and the Bank’s executive officers and to ensure that compensation is consistent with the Bank’s objectives, strategy, and control environment. The Committee ensures that clear policies for the Bank’s salaries and compensation schemes are in place and that they are effective at attracting and retaining the best caliber professionals. |
Chair:Mr. Rajeev Kakar Members: Mrs. Magda Habib; Mr. Jay-Michael Baslow |
|
The Corporate Governance and Nomination Committee Responsible for CIB's corporate governance as well as the Board's Nomination process and succession planning |
It advises the BoD on the Bank’s governance framework and reviews new and amended changes to the BoD and Committees charters. This entails a periodic review of the Bank’s corporate governance structure and recommending changes, when and if necessary, to the BoD. The GNC contributes to board effectiveness and governance, it sets the criteria for selecting new directors and assisting the BoD in identifying suitable individuals for nomination as non-shareholders representatives BoD members. |
Chair: Dr. Amani Abou-Zeid Members: Mr. Rajeev Kakar; Mr. Paresh Sukthankar |
|
The Operations and Technology Committee Assisting the BoD in overseeing Bank operations and technology strategy and operations and technology risk |
The Operations and Technology Committee assists the Board of Directors in fulfilling its oversight responsibilities over Operations and Technology, with respect to direction and alignment with the Bank’s strategy, efficiency and support of the business, robustness and resilience. In addition to ensuring they are at the forefront of developments and adopting cost justified best practices, with the objective of increasing bank competitiveness and reducing risks. |
Chair:Mr. Rajeev Kakar Members:Mrs. Magda Habib; Mr. Tarek Rouchdy |
|
The Sustainability Committee |
Oversees CIB‘s Sustainable Finance Strategy to ensure the effective integration of ESG practices. The Committee provides the Bank with strategic guidance on Environmental, Social, and Governance matters and oversees effective integration of ESG practices within the Bank’s business and operational functions while ensuring alignment with global and regional trends as well as with the Bank’s stakeholders’ values and interests. |
Chair:Mr. Jay-Michael Baslow Members: Dr. Amani Abou-Zeid; Mr. Tarek Rouchdy |
Executive committees
| Committee | Key Responsibilities | Members |
|---|---|---|
|
The Management Committee Responsible for execution of the Bank's strategy
|
The Committee is responsible for executing the Bank’s strategy as approved by the BoD. The Committee manages the day-to-day functions of the Bank to ensure alignment with strategy, effective controls, risk assessment, and efficient use of the Bank’s resources. The Committee also monitors the Bank’s strategic associates and subsidiaries. |
Chair:Mr. Hussein Abaza Members:CIB SeniorManagement |
|
The High Lending and Investment Committee Responsible for asset allocation, quality, and development |
This Committee is responsible for managing the assets side of the balance sheet, through keeping an eye over assets allocation, quality, and development as stipulated in the Bank’s Credit and Investment Policies. HLIC is the authority responsible for monitoring the decisions and performance of the other Credit Committees in the Bank. |
Chair: Mr. Hussein Abaza Members: CIB Senior Management |
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