Hisham Ezz Al-Arab, Mohamed Naguib appointed as advisors to Governor of Egypt's Central Bank

CAIRO - 25 August 2022: Acting Governor of the Central Bank of Egypt (CBE), Hassan Abdullah, appointed, in his first assignment after assuming the position, two senior bankers as his advisors; a decision that won a standing ovation in banking circles and financial markets.

 

Egyptian President Abdel Fatah El-Sisi issued a republican decree appointing Hassan Abdullah as acting governor of the Central Bank on Thursday, Aug. 18.

 

Abdullah decided, in his first meeting with heads of banks in the Egyptian market, on Wednesday, to choose both Hisham Ezz Al-Arab and Mohamed Naguib as his advisors, according to local media.

 

This was confirmed by Ezz Al-Arab on his social media account, expressing his confidence of success despite the challenges, asking Allah to help him with this task.

 

Hassan Abdullah met with all the heads of banks and their deputies, Wednesday, for more than 4 hours, in the presence of Gamal Negm, Deputy Governor of the Central Bank of Egypt, and Chairman of Banque Misr, Mohamed El-Etreby, who invited the leaders of banks to attend this meeting as president of the Banks Union.

 

The meeting was attended by the former heads of banks after the friendly meeting with the banking sector, led by Hisham Ezz Al-Arab, former head of the Commercial Bank, Fathi El Sebaei, former head of the Housing and Development Bank, Mohamed El-Deeb, former head of QNB, Mohamed Barakat, former president of the Arab International Bank and others.

 

During the meeting, the attendees discussed everything related to the banking business or the problems they encounter and put forward new ideas for development.

 

The dollar captured the largest part in the dialogue. The meeting also dealt with the important role of banks in resolving the current economic crisis.

 

Hisham Ezz Al Arab

 

Hisham Ezz Al-Arab held the position of Chairman and Managing Director of the Commercial International Bank (CIB), the leading bank in the private sector, and was one of the candidates for the position of Governor of the Central Bank after the sudden resignation of the former Governor, Tarik Amer, earlier in August.

 

Ezz Al-Arab led CIB to reach what it is today as a market leader at all levels, from profitability to sustainability.

 

He previously spent around two years as managing director at Deutsche Bank, seven years as managing director at JPMorgan, and more than three years as assistant vice president at Merrill Lynch.

 

Last year, Ezz Al-Arab founded HE Advisory, a financial and banking consultancy, and is currently working with it as a managing partner.

 

Mohamed Naguib

 

As for Mohamed Naguib, he has served on several boards of directors in Egyptian banks and companies, including Incolise, GB Auto and Banque Misr, and has nearly 40 years of practical experience in the fields of banking services, financial leasing and credit.

 

Naguib held the position of Chairman and Managing Director of the Arab International Banking Company during the period between 2011 and 2018, after serving as Vice Chairman of the Board of Directors and Head of the Credit and Investment Committee at Banque Misr.

 

He also held the position of General Manager for Credit and Marketing at Misr International Bank for more than 20 years.