By Mahmoud Salah El-Din
Cairo – Mubasher: Hisham Ezz Al-Arab, CIB chairman, described CEO’s 9-year term limit as an exceptional decision applied only once by Nigeria in 2010 to combat corruption.
On 24 March 2016, the Central Bank of Egypt set a time limit on the tenures of CEOs managing private and public banks.
Mr. Hisham Ezz Al-Arab has been holding CIB CEO for ten years.
In his speech during today’s conference for investment development, the prestigious CEO said CBE decision was so uncommon that high officials at JPMorgan Chase bank, confirmed that it is only adopted by the Egyptian government.
Hisham Ezz Al-Arab was asked whether this decision is based on political aspects, but the CEO said, “I have no answer”.
