Tarek Amer holds consultations to form CBE’s board

Hossam Mounir
2 Min Read
The Central Bank of Egypt’s (CBE) balances of foreign exchange reserves increased by $520m during June, registering $20.0797bn, compared to $19.5597bn in May. (Abdelazim Saafan/DNE Photo)

The new Governor of the Central Bank of Egypt (CBE), Tarek Amer, is holding consultations to form the CBE’s board of directors.

Sources told Daily News Egypt that the head of a public bank will most likely be chosen to serve as CBE’s deputy governor by 27 November.

Other than Hisham Ramez, who recently resigned and was replaced by Tarek Amer, CBE’s board include Gamal Negm as Deputy Governor, and head of Egyptian Financial Supervisory Authority Sherif Samy.

The board also includes head of the Financing Sector at the Ministry of Finance, Mahmoud Hussein, Former Vice-President of the Council of State, Moataz Morsy, Professor & Head of the Economics Department at the Faculty of Economics and Political Science at Cairo University, Laila El Khawaga, and Alaa El-Shazly, Professor at the Faculty of Economics and Political Science at Cairo University.

Gamal Negm is currently the only Deputy Governor of CBE, after Nidal Assar resigned in December 2014, due to the implementation of a maximum wage protocol at CBE.

CBE had also witnessed the resignation of Lobna Helal who also served as deputy governor. However, the banking sector expects her return to the CBE to work with Tarek Amer.

CBE’s board of directors also includes six sub-governors and 10 of their assistants.

Sub-governors include Rania Al-Mashat, Sub-Governor Monetary Policy Unit, Tarek El-kholy , Sub-Governor Risk Management and Banking Supervision – Onsite, Tarek El-Fayed, Sub-Governor Banking Supervision Unit – Offsite, Rafahia Hussein, Sub-Governor Banking Supervision– Licensing, Legal and Credit Registry, Khaled Osman , Sub-Governor Banknote Printing House, and Ihab Kassem, Sub-Governor Banking Operations.


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