Tarek Amer was appointed Governor of the Central Bank of Egypt (CBE), succeeding Hisham Ramez, who resigned Wednesday, after nearly two years and eight months in office.
President Abdel Fattah Al-Sisi met Wednesday morning with Prime Minister Sherif Ismail, former CBE governor Hisham Ramez, and Tarek Amer, Managing Director of the National Bank of Egypt’s (NBE) subsidiaries in the United Kingdom, and former NBE chairman.
Hisham Ramez tendered his resignation from his post as CBE governor before the end of his term on 26 November, and President Abdel Fattah Al-Sisi accepted it. This caused much confusion, as only 35 days remained in Ramez’s term.
Al-Sisi expressed his appreciation for Ramez’s and the CBE board’s sincere efforts during his term, which saw acute economic conditions in light of regional and international difficulties.
Al-Sisi appointed Tarek Amer as governor with a four-year contract, effective from 27 November until 27 November 2019.
Amer previously filled the post of first deputy CBE governor from 2003 until 2008. During this period, Amer participated in the implementation and preparation of the reform programme of the monetary policy and the banking sector. He also served as NBE chairman from 2008 to 2013, a period during which he led a comprehensive reform of the bank that was praised by many financial institutions at the international and regional levels.
Amer has previously worked in the Bank of America and Citibank abroad, before returning to Cairo to take over as deputy chairman of Banque Misr, then taking up his position at the CBE. He also served as president of the Federation of Egyptian Banks.