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State banks see limited changes to Boards of Directors - Daily News Egypt

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State banks see limited changes to Boards of Directors

Renewal for Okasha, El-Etreby and their deputies at NBE and Banque Misr, respectively, as Fahmy leaves IDB

The Boards of Directors at Egypt’s government banks have witnessed limited changes following the end of their respective terms on 25 September.

Hisham Okasha and his two deputies were renewed for another term at the National Bank of Egypt (NBE), while Mohamed El-Etreby and his two deputies remained at the helm of Banque Misr.

After five years in the position, Maged Fahmy has left his position as the Industrial Development Bank’s (IDB) Chairperson, to be replaced by Ghada Al-Baily, head of the NBE’s Treasury Group. Hamd Azzam remains on as the IDB’sDeputy Chairperson.

The fate of the heads of Banque du Caire and the Egyptian Arab Land Bank (EALB) remains undecided, although sources have said that they were granted a renewal.

On Friday, Prime Minister Mostafa Madbouly issued two decisions to reconfigure the Board of Directors at the NBE and Banque Misr for a period of three years, starting from 25 September 2020.

The NBE’s new Board of Directors includes: Hisham Okasha as Chairperson; Yehya Aboul Fotouh Ibrahim as Deputy Chairperson; and Dalia Abdullah Mohamed as Vice Chairperson.

Sahar Mohamed and Ali El Salab will serve as non-executiveboard members, along with Ali Fahmy Ibrahim El Siedy, Sherif Josef Alexan Wahba, Ahmed Mohamed Helmy Seddik Soliman, Atef Ahmed Helmy Nageb, and Mohamed Hany Mahmoud Salah.

Banque Misr’s new Board of Directors includes: Mohamed Mahmoud Ahmed El-Etreby as Chairperson; Akef Abdellatif El Maghreby as Executive Deputy Chairperson; along with Hossam El Dib Abdel Wahab Ali Mohamed. The bank’s non-executive board members include Ahmed Alaa El Din Aly El Gendy, Tamer Abdel Aziz Shehata, Mohamed Fawzy Abdel Bari, Mohamed Seif El Nasr, Khaled Khalil Abdel Wahab Kandil, and Merna Ouf.

Topics: banks

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