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Egyptian parliament approves renewal of Tarek Amer's term as head of central bank

Tarek Amer's term was extended for a further four years

Ahram Online , Thursday 28 Nov 2019
 Tarek Amer
File photo: Governor of the Egyptian Central Bank Tarek Amer (Photo: Ahram)
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Egypt’s House of Representatives approved on Thursday the president's decision to extend the governor of the Central Bank’s term for four more years, until 2023.

President Abdel-Fattah El-Sisi’s decision was recited in an emergency session of the parliament, in accordance with the constitution and the House of Representatives’ bylaws.

House Speaker Ali Abdel-Aal said that the renewal of Governor Tarek Amer’s term was in accordance with his proven experience and impressive resumé.

A governor’s four-year term can be renewed once.

El-Sisi appointed Amer to the post following the resignation of Hisham Ramez in October 2015. 

The bank floated the Egyptian pound in November 2016, and oversaw a variety of other major economic and fiscal reforms during Amer’s tenure.

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