The general assembly of the Federation of Egyptian Banks (FEB) has chosen Tarek Fayed, chairperson and CEO of Banque du Caire, to become a member of the FEB’s board of directors.
Fayed succeeds Hassan Abdel Meguid, the former CEO of SAIB Bank on the FEB’s board, after the latter left the bank.
The FEB’s board of directors currently includes Hisham Ezz Al-Arab as chairperson, Hisham Okasha as vice chairperson, and Akram Tenawi as board member and treasurer.
It also includes Mohammed al-Deeb, Mohamed El-Etreby, Ahmed Ismail Hassan, Elsayed Elkosayer, and Hala Sakr.
The FEB actively contributes to achieving several goals, such as deepening the concept of correct banking workflow, following unified systems and procedures, putting an ethics code in place, consulting on all issues resulting from free competition among banks, as well as strengthening scientific, cultural, and social links between the banks operating in Egypt and abroad.
Fayed has over 30 years of experience in the banking sector in international and local institutions.
Prior to joining Banque du Caire, he served as deputy governor of the Central Bank of Egypt (CBE), where he supervised several files related to improving supervision and preparing a supervisory directory, through which he contributed toward limiting the risks that the banking sector may have faced. He also implemented the Basel standard and issued the first financial stability report in 2016.
Fayed also represented the CBE in a number of regional and international organisations, such as the Arab Trade Financing Programme, the financial stability team at the Arab Monetary Fund, the Preferential Trade Area of the Common Market for Eastern and Southern Africa (COMESA), the technical committee of the Islamic Financial Services Board, and contributed in the International Monetary Fund negotiations.
Besides his role at Banque du Caire, Fayed is also a board member at iScore, as well as at the Credit Guarantee Company, and the Cairo Leasing Company.