Egyptian President Extends Term of Central Bank Governor

Egyptian President Abdel Fattah al-Sisi has extended the term of Hasan Abdalla, the acting central bank governor, for a third year. Abdalla, previously head of Arab African International Bank, took the position in August 2022 after Tarek Amer's unexpected resignation. His term was renewed in 2023.

Egyptian President Abdel Fattah al-Sisi has extended the term of acting central bank governor Hasan Abdalla for a third year, according to the official gazette published on Monday.

Abdalla, who served as the head of the Cairo-based Arab African International Bank for 16 years, initially took on the role in August 2022 following the unexpected resignation of Tarek Amer, who had held the position for many years. Abdalla's appointment was subsequently renewed in 2023.

The extension of Abdalla's term underscores the confidence placed in his leadership amid ongoing economic challenges.

(With inputs from agencies.)