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10:08 a.m. M.
Sunday 25 October 2020
I wrote – Yasmine Selim:
Sherif Sami, the new president of the International Commercial Bank, said that Tariq Amer, the governor of the Central Bank, promised the bank’s board of directors to send a detailed report of the violations he found and, as a result, the chairman of the executive board was changed. .
On Friday, the International Commercial Bank announced that Hisham Ezz Al-Arab would step down, after the Central Bank decided to remove him. For what the central bank described as serious violations in the bank’s business.
In a statement, the CBE reported that it had met with the Board of Banco Comercial Internacional, which undertook to plan measures to correct the supervision notes monitored by the Central Bank.
Sami said, in an interview with Sky News Arabia today, Sunday: “As a former watchdog, the violations do not signify the need for a financial problem, but it may be a lack of commitment to certain procedures or controls.”
He added that there are no changes to the bank’s board of directors and everyone is doing business as usual.
According to Sami, CIB is a symbol for the entire Egyptian market, and it is a banking school and the change involved a single person, and the investor or depositor has the right to worry, but we believe that the censor in every country in the world has the right to intervene if you find something that does not satisfy you.
He noted that the Central Bank stressed the soundness of the financial position and does not worry about the money of depositors.
