Union of Arab Banks picks Tarek Amer as best governor of 2017

CAIRO – 5 October 2017: The Union of Arab Banks (UAB) has chosen governor of the Central Bank of Egypt (CBE), Tarek Amer, as best Arab central bank governor in 2017.

Secretary-General of the UAB Wessam Aboul Fotouh told Egypt Today that the choice came after the union’s executive committee met in Lebanon Thursday.

“Amer’s nomination came due to his contribution in stabilizing the fiscal policy, leading Egypt’s economic reform program, negotiating with the International Monetary Fund (IMF) and launching initiatives that support the economy,” Aboul Fotouh said.

With the attendance of over 1,000 key figures in the Arab and international banking sectors, Amer will be awarded in November during a ceremony in Beirut.

In August, Amer was named Central Bank Governor of the Year for the Middle East and North Africa by GlobalMarkets; the newspaper of the International Monetary Fund (IMF) and the World Bank.

The choice came as Amer was the architect of the IMF’s Extended Fund Facility program for Egypt, which secured a $12 billion loan for the country, in addition to leading Egypt’s exchange rate reform, GlobalMarkets said in a note.

“Amer played a pivotal role in putting the economy on a sustainable path and restoring the confidence of international investors,” the newspaper said, adding that Amer was committed to pursuing a firm monetary policy, timely communication with the market and macro-prudential regulation.