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Ashraf Salman to exit his businesses and resigns from other posts

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By Abdel Qader Ramadan


Newly appointed Minister of Investment Ashraf Salman told the Daily News Egypt he is exiting businesses he owns and 18 other positions he holds after his cabinet appointment.

Salman held the position of CEO of Cairo Financial Holding as well as other executive and advisory positions for several companies.

Salman’s resignations come in accordance with the conflict of interest law.

He has offered 4.8% shares of CFH for sale, and interest purchasers will respond within 3 to 4 days, he said.

Salman mentioned that the law allows government officials to exit their businesses and resign from any other positions they hold within two months of their appointment.

Salman added that he will sell his shares in the Egyptian Gulf Bank in the bourse and will exit investments worth EGP 100,000.

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