The announcement was made during the first meeting between the CBE head and leaders of banks across the Egyptian market, which included current and former leaders
Newly-appointed acting Governor of the Central Bank of Egypt (CBE) Hassan Abdalla has selected former president of the Commercial International Bank (CIB), and Mohamed Naguib, the former head of the saib Bank, as his advisors.
The announcement was made during the first meeting between the CBE head and leaders of banks across the Egyptian market, which included current and former leaders.
Business leaders told online news portal Enterprise that they were hopeful that Abdalla could review import rules brought in by previous CBE governor Tarek Amer, who resigned last week.
Abdalla’s meeting with the banking heads centered on issues and obstacles that the banking sector is facing, as well as proposing new ideas and solutions aimed at developing the state's monetary policies. According to media outlets, the USD dominated discussions.
Ezz Al-Arab held the position of Chairman of the Board of Directors of Commercial International Bank and Managing Director from 2001 until October 22, 2020. Ezz Al Arab topped many people’s list as the potential next CBE head (or acting) last week prior to Abdallah’s appointment.
Throughout the years, Naguib has served on several bank and corporation boards including GB auto and Banque Misr. Naguib was chairman and managing director of SAIB Bank between 2011 and 2018.