Central Bank of Egypt (CBE) Governor Tarek Amer called for bank leaders to hold an expanded meeting at CBE at 2pm next Sunday, according to a senior banking official who received Amer’s invitation.
The source explained to Daily News Egypt that this meeting is the first of its kind in terms of the number of participants and their professional grades since Amer took office as CBE governor in November 2015.
He added that this meeting will be attended by all the heads of banks operating in the Egyptian market, their deputies, and a number of other officials.
The last meeting that brought together so many bank leaders was at the ceremony to welcome Amer and bid farewell to former CBE governor Hisham Ramez, the source said.
According to the source, this meeting will be the first of its kind between Amer and bank leaders who will be laid off, in accordance with the CBE’s decision to make the maximum period of tenure for banks’ executive directors nine years.
Amer will tackle this decision during his meeting with bank leaders, along with his other recent decisions relating to the devaluation of the Egyptian pound against the US dollar, increasing the interest rate on the Egyptian pound by 1.5%, and the effect of these decisions on banks and on the market as a whole.