EBank’s Board of Directors and Executive Management Team believe in adhering to and abiding by the highest measures of compliance and governance in order to sustain strong trust of our shareholder in us. Governance refers to a series of regulations and practices that shape the relationship between Board of Directors, the executive managers and shareholders; it also identifies the responsibilities and privileges of each party. Governance addresses the approaches of the board and top management in handling and executing daily operations by
- 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.
- Making sure the bank’s activities are conducted in a safe and sound manner in terms of abiding by applicable laws and regulations
- Achieving the highest standards of corporate values, while integrating these values into the bank’s corporate culture through a set of disciplined policies and procedures, which include
- Rules of professional conduct
- Confidentiality and information security
- Dealings with stakeholders
- Conflict of Interest
- Reporting violations
- Disclosure and transparency
The Board of Directors routinely ensures the bank’s adherence to all governance principles through periodic auditing and updating rules of professional conduct with an objective of upgrading governance practices to comply with regulatory requirements. Furthermore, the bank urges and encourages members of the Board of Directors, executive directors and employees to abide by corporate values, internal policies and approved procedures.
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 is an independent function in EBank. It is responsible for monitoring and generating reports on risks of non-compliance, which include risks of legal or legislative penalties, fines, defaming bank’s reputation as a result of failure to adhere to laws and provisions, code of professional conduct and standards of sound practices in connection with the government and the bank’s activities.
These regulations and legislations include local and international laws, instructions of the Central Bank of Egypt. The compliance Sector monitors and oversees if the employees abide by all the directives and/or instructions of supervisory authorities. The sector also ensures the implementation of regulations and laws related to combating money laundry and terrorism financing.
EBank is committed to combating money laundry and terrorism financing in accordance with the best practices in this regard, by using the latest automated systems, which continuously monitor financial transactions and customer accounts to expose any suspicious operations of money laundry or terrorism financing with the highest level of efficiency.