The Egyptian Institute of Directors' (IOD) Board of Trustees held a meeting on 24 July 2006 chaired by Dr. Mahmoud Mohieldin. Dr. Mahmoud Mohieldin highlighted that a corporate governance manual for state-owned companies has been published to help public sector companies to become more competitive and puts those entities on equal footing as private sector companies and thus enables them to face market challenges.
He added that the Organization of Economic Cooperation and Development (OECD) praised Egypt for becoming the first Arab country to publish an Arabic corporate governance manual and the second in the world to publish a national manual for public sector companies.
He also asserted that boards and general meetings of the holding companies enforce corporate governance principles and the market conditions encourage private sector companies to commit to such principles as the companies have to commit to corporate governance standards to be listed by the Stock Exchange.
From another perspective, the IOD has started training programs for board members to raise awareness of corporate governance principles.