Egypt's President Abdel Fattah al-Sisi elected senior banker Tarek Amer to replace Central Bank of Egypt (CBE) governor Hisham Ramez who submitted his resignation Wednesday, as his term expires on November 26, Al-Bawaba News reported. Al-Sisi met with Ramez, Amer and Prime Minister Sharif Ismail to review the performance of CBE during the last period, in light of the increasing criticism because of the gradual devaluation of the Egyptian pound against the US dollar. Amer will assume the responsibility of Egyptian monetary policies for four years starting from November 27, 2015. He served as first deputy governor of CBE from 2003 until 2008, and participated during this period in the implementation and preparation of the monetary policy reform. He also served as President of the National Bank of Egypt (NBE) for five years from 2008 until 2013.
