23 September 2018 08:46 AM

Court invalidates CBE decision limiting bank heads' tenures

Monday، 27 June 2016 - 01:10 PM

An administrative court issued on Sunday 26/6/2016 a ruling halting the implementation of a decision issued by the Central Bank of Egypt (CBE) on limiting tenures of private banks' chief executives to maximum nine years.

 

Private banks shareholders filed the lawsuits, saying that the banks' general assemblies are the only party responsible for assigning or dismissing chiefs of their banks.


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