EGX Ratifies Board Tweak, Mashat New CBE Representative

The Egyptian Exchange board of directors had ratified a number of tweaks in its board during its meeting held last Thursday.

The EGX board had agreed on changing the Central Bank of Egypt (CBE) representative after Nidal Assar has been selected to be the Misr for Central Clearing, Depository and Registry (MCDR) board member. Accordingly, EGX board had chosen Dr. Rania Al-Mashat to be the new EGX board member representing the CBE.

EGX board has also approved its board member  Gamal Fawzy’s resignation as he had left his office as the managing director at the Mena Touristic & Real Estate Investment and accordingly becomes the company representative no more.

Meanwhile, Dr. Mohamed Omran – the EGX Chairman, had thanked the members who left board for their considerable efforts and had welcomed the newly-assigned. Dr. Omran had expressed his confidence that the recent tweaks will not reversely affect the EGX board’s performance while drawing up policies to upgrade the Egyptian bourse.

Worth mentioning, the current EGX board of directors will remain in office until the beginning of the second half of 2013.