Cooperative Insurance Society To Name A New Managing Director This Week

The Cooperative Insurance Society – Egypt plans to hold a meeting next week to choose a managing director and chairman for the society.

Moustafa Abul Azm, deputy general manager at the Society, stated that a new board of directors has been elected including members from the National Bank of Egypt (NBE), Al Baraka Bank of Egypt, Industrial Development and Workers Bank of Egypt, Alex Bank and Star Gas Company.

Abul Azm added that the board also includes three members from the Social Fund for Development and two members with experience who are Kamal Mohamed Ali and Refaat Rashed. The managing director will be selected from the two experienced members.

The Society’s board of directors, headed by Alaa El-Gharably, resigned at the end of last December and a board election was held last week to choose a new board of directors.