Egypt names AAIB’s Hassan Abdalla as central bank senior aide governor: sources

Hassan Abdalla, chief executive of the Arab African International Bank (AAIB) has been appointed as the senior assistant governor of the Central Bank of Egypt, banking sources with knowledge said on Thursday.

Sherif Elwy, Egypt country manager of Arab Bank, is to succeed Abdalla as chairman of the board of the AAIB, the sources told Amwal Al Ghad.

Established in 1964, the AAIB bank is a joint venture between the Egyptian central bank and Kuwait Investment Authority (KIA), with each party holding a 49.37 percent stake.