Egyptian President Appoints Hassan Abdullah as Central Bank Governor

The official gazette in Egypt published a decree issued by President Abdel Fattah el-Sisi to renew the appointment of Hassan Abdullah as the acting governor of the Central Bank for one year, effective tomorrow, Friday. The acting governor of the Central Bank of Egypt was born in August 1960 and earned a Bachelor’s degree in Business Administration from the American University in 1982, followed by a Master’s in Business Administration in 1992. He has served as the current president of the United Media Services Company since late May 2021. He also held the positions of CEO and Vice President at the Arab African International Bank, Chairman of the Board of Trustees of the Arab and French Banks Union in Hong Kong, and founder and Chairman of the Board of Trustees of the Wafa'a for Egypt Foundation. Additionally, he was a faculty member at the American University in Cairo and a member of the Strategic Advisory Committee at the university's business school. One of his key contributions at the Arab African Bank was his role in merging the Bank of Egypt and America International with the Arab African Bank after acquiring 100% of the former’s shares, marking a first-of-its-kind experience among private banks in Egypt. The merger helped enhance the size of the Arab African Bank and expand its presence in the local banking market, and after ten years following the acquisition, he successfully led the bank to acquire the portfolio of the Canadian Nova Scotia Bank in Egypt in 2015.