President El-Sisi issued the Presidential Decree No. 551 for the year 2023, essentially reshuffling the central bank’s board of directors and extending Abdallah’s one-year term until 2024, effective November 27, 2023
Former United Media Services head, Hassan Abdallah, was reappointed by President El-Sisi as acting governor of the Central Bank of Egypt (CBE) for an additional year as part of the president’s restructuring of the bank’s board.
President El-Sisi issued the Presidential Decree No. 551 for the year 2023, essentially reshuffling the central bank’s board of directors and extending Abdallah’s one-year term to 2024, effective November 27, 2023.
This is the second one-year term for the CBE head after taking over from long-time governor Tarek Amer following his sudden resignation in August 2022.
According to an announcement on the Egyptian Gazette yesterday, SAIB chairman Tarek El Kholy returns to the central bank as deputy governor alongside reappointed deputy governor Ramy Aboulnaga, remaining in his pivotal role since his appointment in 2019.
The president also instructed for a new position to be created, placing Mohamed Abou Moussa as the CBE’s inaugural assistant governor.
The CBE’s board of directors is currently led by Hassan Abdallah holding the reins as acting governor, and Ramy Aboulnaga and Tarek El Kholy as deputy governors.
Other members include Financial Regulatory Authority chairman Mohamed Farid, Mohamed Ali Faramawi, Naglaa Anwar Al-Ahwany, Sherif Hussein Kamil Mohamed, Hassan Mohamed Hassan El Khatib, Samiha El Sayed Fawzi, Essam Mohamed Amer, and Mohamed Osman Ibrahim El-Dib.
