Egypt's president Mohamed Morsi did not discuss the make-up of his new cabinet with the Central Bank's governor during their Sunday meeting, the president's spokesman said on Monday.
Morsi's meeting with Farouk El-Okdah has led many to speculate that the veteran banker is in line for the job of Prime Minister in the president's new government.
The president's spokesman, however, said that the discussion focused on the state of Egypt's banking system and ways to develop it.
"The Central Bank governor told President Morsi that the Egyptian economy has passed through its hardest phases," Yasser Ali, president's temporary spokesman, was reported as saying by Ahram's Arabic language news site.
Local media reports have also suggested Hazem El-Beblawi, Egypt's deputy prime minister and finance minister for five months in 2011, might also be in the running for a senior Cabinet position.
Speaking to Ahram Online on Monday, El-Beblawi dismissed the reports as "just rumours."
El-Okdah became governor of the central bank in December 2003, succeeding Mahmoud Abul-Eyoun. He was reappointed to a third four-year term last November.
In 2011, Euromoney named El-Okdah Central Bank Governor of the Year for the Middle East and North Africa region.