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Wednesday, 23 November 2022

Hisham Ezz Al Arab is back on the board at CIB

Our friend Hisham Ezz Al Arab is back home: CIB’s former chairman and managing director Hisham Ezz Al Arab (LinkedIn) is back on the bank’s board of directors after being appointed a non-executive director with the Central Bank of Egypt’s blessing, the bank said in a statement yesterday.

Ezz Al Arab was forced by the pervious governor of the central bank to step down from the board two years ago. Since the resignation of Tarek Amer as CBE governor earlier this year, Ezz Al Arab’s relationship with the central bank has taken a 180° turn — he has served as an advisor to governor Hassan Abdalla since late August.

All of this was good for CIB’s share price: CIB shares closed 1.5% higher at EGP 38.05 at the end of yesterday’s trading session.

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