CIS Extends Election Candidate Registration Period To Tuesday

The Cooperative Insurance Society Egypt extended the candidate registration period for board elections that was slated to end yesterday to next Tuesday, sources said.

The Society has taken such decision as many potential candidates have not submitted the required document yet, sources added.

The candidacy door is slated to be closed tomorrow at 6:00 PM and the names of candidates will be announced the following day. The appeals will be submitted next Thursday. The elections will be conducted during the general assembly meeting that will be held on January 21st and 22nd under the supervision of the State Litigation Authority.

15 candidates have submitted their requests to run for the positions of the members of the Society’s board of directors including: Saleh Abdel Ghany, former head of technical affairs at the Society; Mohamed El-Shafaey, representative of Social Fund for Development; Hassan El-Askary and Tarek EL-Sahry. In addition, Insurance Holding Company and Natural Gas Vehicles Company (Cargas) have nominated candidates.

Kamal Abdel Ghany and Ali Shaker, former managing director of the Society, have submitted their documents to run for the experienced member position. Adel Fatoury, head of the reinsurance department at Egyptian Saudi Insurance House, is expected to submit his documents to run for the same position.

It is worth noting that the board of directors which is headed by the Alaa El-Gharably, representative of the Social Fund for Development at the Society, resigned at the end of last December. The candidacy door for board elections was opened at the beginning of this month.

11 members will be elected for the board of directors and two members will be experienced members; one of which will assume the responsibilities of the administrative and executive affairs of the Society.