Latest news with #TarekAmer
Zawya
a day ago
- Business
- Zawya
Egypt: El-Sisi extends Hassan Abdalla's term as CBE governor for 1 year
Arab Finance: Egyptian President Abdel Fattah El-Sisi has renewed Hassan Abdalla's appointment as Acting Governor of the Central Bank of Egypt (CBE) for another year, according to a presidential decree published in the Official Gazette. The decision marks Abdalla's third consecutive term at the helm of the CBE. His new mandate will run from August 18th, 2025, until August 17th, 2026. Abdalla was first appointed as acting governor in August 2022 following the resignation of Tarek Amer. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
a day ago
- Business
- Asharq Al-Awsat
Sisi Extends Hassan Abdalla's Term as Central Bank Governor for One Year
Egypt's Official Gazette reported on Monday that President Abdel Fattah al-Sisi has renewed the mandate of Hassan Abdalla as acting governor of the Central Bank of Egypt (CBE) for another year. Abdalla was first appointed in August 2022 following the unexpected resignation of long-serving governor Tarek Amer. During a meeting with Abdalla on Monday morning, Sisi stressed that ensuring sufficient availability of foreign currency resources positively impacts the country's ability to secure strategic reserves of essential commodities, petroleum products, and production inputs for factories. The president underlined the need to continue efforts to boost Egypt's dollar revenues, particularly through domestic resources, while maintaining close coordination between the government and the Central Bank to safeguard a unified and flexible exchange rate. According to Presidential Spokesman Ambassador Mohamed al-Shenawy, the meeting also reviewed several aspects of Egypt's current economic performance. Discussions covered ongoing efforts to sustain the decline in inflation, progress in strengthening the state's foreign currency reserves, as well as the broader global economic landscape and its challenges, and how these developments affect Egypt's macroeconomic stability. The Central Bank's Monetary Policy Committee is scheduled to meet on Aug. 28 to decide on interest rates. Market analysts widely expect a rate cut of between 1 and 3 percentage points, as inflationary pressures ease and foreign exchange inflows improve.
