Egyptian President Abdel Fattah al-Sisi has renewed Tarek Amer’s term as governor of the Central Bank of Egypt (CBE), al-Borsa newspaper reported on Monday, according to an official source at CBE. Sisi issued a decree appointing Amer to his post on November 27, 2015, succeeding former Central Bank governor Hisham Ramez. Amer has led the Central Bank during a particularly difficult period in modern Egyptian history, with the country facing its most severe currency crisis in 30 years and major economic problems that demand an active role on the part of the Central Bank. Furthermore, rules governing electronic payments and financial technology have witnessed an important boom under the guidance of the Central Bank in recent years. Egypt is at the end of a three-year economic reform program tied to a US$12 billion loan from the International Monetary Fund.

Source: Egypt Independent November 26, 2019 11:26 UTC