Privatization Board to screen criminal records prior to appointing directors

The Privatization and Co-privatization Board has decided to make it mandatory for all candidates appointed to the board of directors of public limited companies to undergo a screening of their criminal records.

President of the Privatization and Co-privatization Board Mohamed Amjad said that all candidates to be appointed to the board of directors of public limited companies have to submit a police report detailing their criminal records. All of their qualification certificates also have to be attested before submission, he said.

“This is a new criterion we’ve established, since we took over. From now on, we’ll review these things when we appoint members to the boards,” Amjad said.

He said that the Privatization and Co-privatization Board will also check if the candidates have any pending debt to the courts.

“We have to review their criminal records and verify the authenticity of their qualifications before we can appoint them as directors to large government companies. It is also important to check if they have any proven debt. Or we might end up handing over large government businesses to just anyone. Apart from the qualifications, their experience is also very important,” Amjad said.

He said that it is also important for Privatization Board to know if the candidate has family members working for that particular company.

“We had to establish such principles to improve the management of these companies and the ensure that the people we appoint to the board of directors have the proper qualifications and capabilities,” Amjad said.