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The Ministry of Finance looking for independent directors
Public banks
In order to create a new dynamic within its Boards of Directors of the six public banks, the Ministry of Finance is preparing, starting tomorrow Sunday, to recruit new independent directors through a call notice which will be published at this occasion on its electronic site, announced, the day before yesterday, a press release from the supervisory authority.
Indeed, the press release from the Ministry of Finance made public the day before yesterday, proposed work positions for the benefit of independent directors at the level of the Boards of Directors respectively at the level of public banks which are: BNA, BEA, BADR, BDL , CPA and CNEP-Banque through the launch, on its website, of a call for applications notice accompanied by terms of reference, “from May 12, 2024”, specifies the same source.
Also, the Ministry of Finance announced that during the general meeting held in June 2021, two independent directors had already been designated at the level of the said Board of Directors, “following an objective and transparent selection process aimed at the adoption of good governance practices which are part of the banking and financial reform,” observed the Ministry of Finance.
Still according to the ministry, the launch of this new process, which comes at the end of a three-year mandate, follows an evaluation of the contribution of these independent directors to the work of the Boards of Directors of these public banks. In this context, feedback has demonstrated, indicates the Ministry of Finance, that the introduction of independent directors has driven “a new dynamic” at the level of public banks, underlines the said press release.
Indeed, “the contribution of independent directors was appreciable through the intensity of exchanges at the level of the Boards of Directors and the sharing of experiences which contributed to the improvement of the practices and action of these banks” , states the information bulletin of the Ministry of Finance. Note that this procedure is structured around a call for applications “on the basis of precise terms of reference, aligned with the standards applied at the international level, as well as on the experiences of countries whose economies are close to that of our country, based on criteria of competence, probity and absence of conflict of interest,” explains the ministerial department. Also, the selection will be the responsibility of a commission made up of academic figures, having “moral authority and recognized skills in the economic, legal and financial field and executives from the Ministry of Finance”, prescribed the same source. Finally, the Ministry of Finance clarified that “the accession of the candidates selected at the end of this selection process will be formalized during the Ordinary General Meetings of public banks which will be held before June 30,” concludes the press release from the Ministry of Finance. S. Abi