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).
- United Arab Bank makes AED250,000 contribution to Al Thiqah Club for the Handicapped
- Opening up: is Saudi Arabia's stock market ready for an upgrade?
- Severe symptom of a savings gap? Turkey leads Europe in credit card debt
- Gulf stocks facing some serious 'downward pressures'
- Long-anticipated hike: Dollar on track for best annual gain in nine years