CBE governor Tarek Amer first Egyptian to take over AACB presidency

SHARM EL SHEIKH, Egypt - 9 August 2018: Governor of the Central Bank of Egypt (CBE) Tarek Amer will take over the presidency of the Association of African Central Banks (AACB) for the new session (2018/2019).

Amer will succeed Governor of South African Central Bank Lesetja Kganyago.

He will be the first Egyptian to preside over the Senegal-headquartered AACB since its foundation in 1963.

The AACB includes 40 African central banks.

Amer, who was serving before as the vice president of the AACB, will be assigned with putting into force the recommendations of the 41st meetings of the association, hosted by Egypt for the first time.

The idea of setting up the Association of African Central Banks was first introduced on May 25, 1963, at the Summit Conference of African Heads of State and Government held in Addis Ababa, Ethiopia.

The Association has an Assembly of Governors (the governing body comprising all African Central Banks Governors), a Bureau (composed of the Chairperson and the Vice-Chairperson of the Association and Chairpersons of sub-regional Committees) and sub-regional Committees (composed of Governors of Central Banks of the five sub-regions as defined by the African Union).