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Sunday, 1 October 2017

Cabinet decrees “limited” changes to state-owned banks’ management and boards

MOVES- Limited changes to management, boards of state-owned banks: The Ismail cabinet approved on Thursday changes to the boards and management of a number of state-owned banks, according to a statement picked up by Al Borsa.

CBE Deputy Governor Tarek Fayed was appointed chairman of Banque du Caire, replacing Mounir El Zahed, with Mahmoud Mashhour and Amr El Shafei being tapped to serve as Fayed’s deputies.

At Banque Misr, Chairman Mohamed El Etreby will remain in place alongside Vice Chairman Akef El Maghraby for another three-year term, while Sahar El Damaty will replace Ahmed Abu El Ezz as vice chairman.
Hisham Okasha will stay on as the chairman of National Bank of Egypt, with Yehia Aboul Fotouh in place as the first deputy chairman. Dalia El Baz was appointed as the second deputy chairman of the Bank.

Maged Fahmy will continue to run the Industrial Development and Workers Bank of Egypt, while Hany Seif El Nasr will stay on as chair of the Arab Investment Bank.

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