Sunday, Nov 27, 2011
CAIRO (Zawya Dow Jones)--Egypt's military council has renewed the tenure of the central bank head, Farouk al-Okdha, for another four years and reshuffled some members of the bank's board of directors, the Central Bank of Egypt said in an emailed statement.
The new board now includes the governor; two appointed deputies, Lobna Helal and Gamal Nagem; the head of Egypt's stock market regulator, Ashraf el-Sharkway; a representative of the ministry of finance, Momtaz el-Said; and four economic and legal experts appointed for four years but subject to renewal, the statement said.
Al-Okdha will start his four-year term with the new board Sunday. He first became governor in December 2003.
-By Farah Halime; Contributing to Dow Jones Newswires;
Fhalime@gmail.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
27-11-11 0618GMT
