Raya Holding Receives Certification of Conformance with the International Standards for the Professional Practice of Internal Auditing
Raya Holding for Financial Investments, a company listed on the Egyptian Exchange, announced that its Internal Audit Department has received the Certificate of Conformance with the International Standards for the Professional Practice of Internal Auditing, issued by the Institute of Internal Auditors Egypt (IIA Egypt).
This certification follows the External Quality Assessment (EQA), which confirmed that the Internal Audit Department generally conforms with the International Standards, the highest rating granted by the Institute.
The certification is considered one of the most important professional accreditations in the internal auditing field and is awarded only to organizations that demonstrate strong governance, transparency, and compliance with global best practices set by the International Institute of Internal Auditors.
This recognition marks a significant milestone in Raya Holding’s commitment to strengthening institutional trust and enhancing internal audit practices in line with its position as a leading investment group listed on the Egyptian Exchange, committed to the highest levels of disclosure and governance.
The certificate was presented during a ceremony held at Raya Holding’s headquarters, attended by:
Mr. Medhat Khalil, Chairman of the Board, Raya Holding
Mr. Ahmed Khalil, Group Chief Executive Officer, Raya Holding
Dr. Sherif Kamel, Chairman of the Audit Committee, Raya Holding
Mr. Nabil Diab, The President and Chairman of the Board of Directors of the Institute of Internal Auditors Egypt
as well as members of Raya’s Internal Audit team, representatives from the Institute, and members of the Board of Directors.
Ahmed Khalil, Group CEO of Raya Holding for Financial Investments, Said:
“We are proud to receive this certification, as it reflects real effort and a clear commitment to establishing a strong governance framework across the Group. As a company listed on the Egyptian Exchange, it is essential for us to maintain an independent and effective internal audit function that supports sound decision-making and enhances transparency with shareholders and investors.
This certification is the result of continuous collaboration between the Audit Committee, the executive management, the Internal Audit team, and our partners at IIA Egypt. We consider it an important step that confirms we are moving in the right direction in developing Raya’s operations and elevating our management standards.”
Comment from Nabil Diab, Chairman of the Institute of Internal Auditors Egypt
“This recognition reinforces Raya Holding’s position as a leading company in Egypt and the region in applying sound governance practices. It strengthens stakeholder confidence in the effectiveness of the Group’s internal control environment and reflects Raya’s capabilities as an organization operating across multiple markets in the Middle East, Africa, and Europe, supported by a workforce of thousands of employees dedicated to transparency, discipline, and global standards.”
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