22 candidates will run for the Cooperative Insurance Society Egypt’s board elections, slated to be held on January 21st and 22nd, sources said.
The most prominent candidate who submitted his candidacy documents in the last 48 hours is Mohamed Abdel Rehim El-Sabea, former managing director of CIS who had earlier lost in the previous elections of the Society. El-Sabea, Dr. Mohamed Rafeek and Dr. Ali Shaker will run for the two positions of the experienced members.
Contrary to expectations, Adel Fatoury, head of reinsurance department at the Egyptian Saudi Insurance House, will not run for this position, although the former board of directors nominated him as managing director. The Social Fund for Development nominated two of its representatives at the Society.
The names of candidates will be announced today. The appeals can be submitted next Thursday, while the final list of candidates will be announced next Sunday.
It is worth noting that the board of directors 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. The candidate registration period was slated to be 13 days, but it was then extended for two more days.
11 members will be elected for the board of directors and two members will be elected as experienced members; one of which will assume the responsibilities of the administrative and executive affairs of the Society. The Society’s board elections will be held under the supervision of the State Litigation Authority.
