Breaking: Changes at the top in Egypt public banks in the coming hours

MENA, Sunday 18 Sep 2011

Arab Investment Bank, the Industrial Development and Workers Bank, Bank du Caire and Egyptian Arab Land Bank to see leadership changes, MENA says

Farouk El-Okda
Farouk El-Okda

A change in leadership at several Egyptian banks will be announced within the next few hours.

The list includes the Arab Investment Bank, the Industrial Development and Workers Bank, and the Egyptian Arab Land Bank.

Bank Misr and Bank du Caire (BDC) will be separated, and a new leadership will be appointed to BDC to replace Mohamed Kafafy, who is currently its managing director and vice chairman. Bank Misr's leadership will remain unchanged.

CEOs of other public banks such as National Bank of Egypt, United Bank and Housing and Developing Bank will not be changed. 

Farouk El-Okda, the governor of the Central Bank of Egypt, has sent the final list of names to the cabinet for approval, after which the names will be announced. 

 

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