Egypt Bourse suspends EFG-Hermes, awaits details on CEO

Reuters , Tuesday 14 Feb 2012

Trade is frozen as the exchange asks for more details on Yasser El-Mallawany, banned from travelling to the Emirates last week

Yasser El-Mallawany
FG-Hermes head Yasser El-Mallawany (Photo: Ahram file)

Egypt's stock exchange said it had suspended trading in EFG-Hermes shares on Tuesday, saying that it was seeking more details about the firm's Chief Executive Yasser El-Mallawany who faces a travel ban.

Airport authorities prevented Mallawany from traveling to the United Arab Emirates last week when officials found his name on a list of people banned from leaving.

The company said Mallawany was still carrying out his duties and that no charges of any form had been levelled against him.

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