Central Bank: CIB Chairman Ezz Al Arab Dismissed

Rana Atef

A few hours ago, the Central Bank of Egypt (CBE) announced dismissing the C ommercial International Bank (CIB) chairman and managing director Hisham Ezz Al-Arab due to serious violations of the Central Bank’s laws, decisions and norms.

CBE decision was expressed in an official letter sent to the CIB highlighting the dangers of those malpractices to the bank’s reputation.

Occasionally, the Egyptian Exchange has suspended the bank's stocks trading today after demands sent by The Financial Regulatory Authority.

In the same context, some reports rumored the Head of the Egyptian Football Federation directing committee Amr El Ganainy’s withdraw from his position in CIB which has been lately negated.

The bank reported net profits of EGP 4.997 billion during the first half of 2020.

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Central Bank: CIB Chairman Ezz Al Arab Dismissed

A few hours ago, the Central Bank of Egypt (CBE) announced dismissing the Commercial International Bank (CIB) chairman and managing director Hisham Ezz Al-Arab due to serious violations of the Central Bank’s laws, decisions and norms.

A few hours ago, the Central Bank of Egypt (CBE) announced dismissing the C ommercial International Bank (CIB) chairman and managing director Hisham Ezz Al-Arab due to serious violations of the Central Bank’s laws, decisions and norms.