Federation Of Egyptian Banks To Elect New Chairman Next March

The Federation of Egyptian Banks (FEB) will elect a new chairman in its general assembly meeting next March, sources said, denying that the election will be held next Monday.

Mohamed Barakat, chairman of Banque Misr, is the most likely candidiate to follow Tarek Amer, former chairman of the National Bank of Egypt and former chairman of FEB. Barakat is the chairman of the second largest governmental bank in Egypt and the regulation states that the chairman of FEB shall be a chairman of a governmental bank.

Mohamed El-Dib, chairman of National Société Générale Bank (NSGB) and deputy chairman of FEB, is urrently the interim chairman of FEB. In addition, FEB will elect two members for the board after Mohamed El-Atreby and Hisham Ramez resigned.