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Monday, 20 December 2021

PM Moustafa Madbouly to chair financial stability committee + Tamer Aly becomes Valeo software development center GM

Top brass from the government and Central Bank of Egypt (CBE) will sit on a joint committee to align monetary and fiscal policy, under a presidential directive published in the Official Gazette (pdf). Headed by Prime Minister Moustafa Madbouly, the council will include CBE Governor Tarek Amer, deputy governors Gamal Negm and Rami Aboulnaga, Planning Minister Hala El Said, Finance Minister Mohamed Maait, and Vice Minister of Finance Ahmed Kouchouk. Several economic experts will also be on the committee, including former planning minister Ashraf El Arabi, head of the Federation of Egyptian Banks Mohamed El-Etreby, and former deputy PM Hossam Eissa.

BACKGROUND- The committee is provided for by the 2020 Central Bank and Banking Act, which mandated the setup of a joint government-CBE committee to help ensure “financial stability,” particularly during times of economic crisis.

Valeo Egypt has appointed Tamer Aly (LinkedIn) as general manager of its software development center specializing in research and development for automotive software, according to a press release. Aly was previously the global software research and development director at Valeo, and has been with the company for some 16 years.

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