Omran Awaits New Cabinet To Submit Resignation: EGX

Reliable sources have informed Amwal Al Ghad that Dr. Mohamed Omran, Chairman of the Egyptian Exchange (EGX), currently awaits the new Prime Minister so as to submit his resignation and return to his academic career in Cairo University.

“Once the new cabinet is formed, Dr. Omran will officially submit his resignation.” The source added

Worth mentioning, During the press conference held on the EGX’s opening new headquarters in Smart Village last April 12th, Dr. Mohamed Omran announced his decision to resign from his office by July 1st maximum and to go back to his work as Professor of Finance at the Arab Academy for Science and Technology, once the new head of state holds his office.

“I think it is the right and suitable to quit after doing my job as EGX chairman during one of the hardest times in Egypt’s history.” Omran added

He had also demand that the coming EGX chairman shall come via elections.

In 2011, the EGX had posted massive losses as its main index fell about 50%, the capital market lost EGP 194 billion amid the post-revolution political and economic instability.

Egyptian former Prime Minister Essam Sharaf named last September Mohamed Abdel Gawad Omran as EGX new chairman, succeeding Dr. Mohamed Abdel Salam.

The Chairman of the Egyptian Exchange served as a Vice Chairman for Operation of the Insurance Holding Company for one year and a Vice Chairman of the Egyptian Exchange for four years from 2006-2010.

Professor Omran holds an MSc from Cairo University and Ph.D. in Finance from the University of Plymouth. UK. He was a visiting Professor in several research and academic institutions such as University of Plymouth, University of Oklahoma, the World Bank, University of Laval, and Vaasa University. He severed several years as an Economist at both the Arab Monetary Fund in Abu Dhabi and the International Monetary Fund in Washington D.C. He was an advisor to the Minister of Investment and an Acting Executive Director of the Egyptian Institute of Directors.

He had been awarded several research grants and prizes, and he was a Fullbright Scholar and he is a Research Fellow at the Economic Research Forum. He served as reviewer for more than a dozen of Economics and Finance Journals.

Professor Omran specializes in financial markets, corporate governance, corporate finance and privatization concentrating on the MENA region. He authored and co-authored around 40 papers and his work appears in several international Economics and Finance Journals such as: Journal of Financial Research, Journal of Comparative Economics, Journal of International Financial Markets, Institutions and Money, World Development, International Review of Law and Economics, Multinational Finance Journal, International Review of Financial Analysis, Journal of Investing, Emerging Market Review, International Journal of Business, Review of Accounting and Finance, International Journal of Theoretical and Applied Finance, and Global Finance Journal.