The Central Bank of Egypt (CBE) is in coordination with the government to make limited changes in the leadership of state-owned government banks before the end of September 2017, according to a senior banker that talked to Daily News EgyptThe term of the boards of directors of National Bank of Egypt, Banque Misr, Banque du Caire, Industrial Development & Workers Bank of Egypt, Egyptian Arab Land Bank, Agriculture Bank of Egypt, and the Arab Investment Bank are expected to end on 25 September 2017. The terms for the officials is set at a period of 3 renewable years, in accordance with the by-laws. The two deputies shall be appointed by a decision of the Prime Minister with the approval of the chairman of the bank. According to the source, there is a strong tendency within the CBE to change the leadership of the seven banks owned by the government, one of them is the head of a commercial bank and the other heads a specialized bank. Four leaders are expected to remain leading commercial and specialized banks.

Source: Daily News Egypt August 20, 2017 17:15 UTC