Hassan Abdalla appointed as CBE’s acting governor

Hassan Abdalla appointed as CBE’s acting governor

President El Sisi issued a presidential decree on Thursday appointing the Chairman of United Media Services (UMS) Hassan Abdalla as the acting governor of the Central Bank of Egypt (CBE).

Hassan Abdalla is the former vice-chairman and managing director of Arab African International Bank and is also the Founder and Chairman of Advisory of private equity firm Panther Associates.

This came after the Egyptian president accepted Tarek Amer’s resignation and appointed him as a presidential adviser, according to a presidential statement.

“I would like to thank President El Sisi for supporting me throughout my term as the governor of the CBE. I resigned to leave room for new blood to take responsibility and push forward Egypt’s successful development process under the leadership of the president,” Amer noted in his resignation note.

In his meeting with Abdalla, Egypt’s President stressed the need to develop monetary policies to keep pace with global economic changes, diversify foreign currency sources and provide a ripe climate for investment.

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