Our round-up of Middle East financial news includes notes on the Saudi-isation of insurance selling in the Kingdom, Algeria's financial difficulties, Morocco's plans to float its local currency, Egyptian inflation, and the DIFC's efforts to attract Trust and Foundation business.
National Bank of Egypt appoints Yasser Ibrahim as London CEO
Yasser Ibrahim has been appointed CEO and Managing Director of National Bank of Egypt (UK), based in London. National Bank of Egypt (UK) is incorporated in London as a wholly owned subsidiary of National Bank of Egypt.
Mr. Ibrahim previously spent more than 20 years with Commerzbank, most recently as the bank's Senior Representative in Egypt (and head of its Representative Office in Cairo). Before that, he had worked as Deputy Head for the GCC countries and Yemen, based in Bahrain, as well as working for Commerzbank in Frankfurt.
From May 2012 until November 2014, Mr. Ibrahim also served as the Non-Executive Chairman of the Board of Directors of Mercedes-Benz in Egypt.
He is currently the Vice Chairman of the Board of Governors of the German-Arab Chamber of Industry and Commerce; he is a Member of the Board of Trustees of the German School in Cairo; and he is a founding Member of the German Speaking Rotary Club Rhein-Nile.
NBE UK's offices are at 11 Waterloo Place, London SW1Y 4AU. The office phone number is 020 7389 1200.
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