Egypt approves new Central Bank governor
President Mohamed Morsi on 11 January named Hisham Ramez, a former deputy central bank governor, as the new head of the CBE after accepting the resignation of longstanding CBE governor Farouq El-Oqda, who has headed the bank since 2003.
The Shura Council, which now holds the legislative authority in Egypt, has thus officially approved the nomination of Ramez by majority vote.
Ramez served as CBE number-two from 2008 to 2011, after which he briefly served as vice-chairman and managing director for Egypt's Commercial International Bank (CIB).
- Twist of fate: Middle East fund managers shy away from Turkey, warm up to Egypt
- 'Let them eat cake'...or in the case of Egyptians, shall we say 'pasta'?
- In flux: What's up with Dubai's stock market?!
- GCC banks could face capital and liquidity shortfall
- It's time for an interest rate war in emerging markets, and here's why Middle Eastern economies should take part