VOL. XLVI

No 49

8-December-2003

REGIONAL BANKING

Appointment Of New CBE Chief Fuels Hopes For Change In Exchange Rate Policy

Egyptian President Husni Mubarak issued a decree on 1 December appointing a new governor of the Central Bank of Egypt (CBE) Faruq al-Uqdah to a four-year term with the rank of minister. Mr Uqdah, whose last position was chairman of the National Bank of Egypt (NBE), replaces Mahmud Abu al-'Uyun, who was appointed in late 2001. A new board for the CBE was also named...