Raya Holding Receives Certification of Conformance with International Internal Auditing Standards
Raya Holding for Financial Investments, listed on the Egyptian Exchange, announced that its Internal Audit Department has been awarded 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).
The certification follows a comprehensive External Quality Assessment (EQA), which concluded that Raya’s Internal Audit Department generally conforms with the International Standards – the highest rating granted by the Institute. This distinction represents one of the most recognized global professional accreditations in the internal audit field and is awarded only to organizations that demonstrate robust governance, transparency, and adherence to internationally recognized best practices.
Raya Holding described the recognition as a significant milestone in its ongoing commitment to reinforcing institutional trust and elevating its internal audit framework. The achievement aligns with the company’s position as a leading investment group committed to the highest levels of disclosure, accountability, and governance.
The certificate was presented during an official 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, President and Chairman of the Board of Directors, Institute of Internal Auditors Egypt
alongside members of Raya’s Internal Audit team, representatives from IIA Egypt, and members of the Board of Directors.
Ahmed Khalil, Group CEO of Raya Holding for Financial Investments, commented:
“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.”
Commenting on the recognition, Nabil Diab, Chairman of the Institute of Internal Auditors Egypt, said:
“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.”