CAIRO: The President of the Financial Supervision Authority, Ziad Bahaa el-Din, resigned from his post on Sunday according to a statement by Egypt`s Cabinet. Prime Minister Ahmed Shafiq accepted the resignation tendered by el-Din, and appointed Ashraf el-Sharkawy, the first Deputy of the Authority, to fill the position. Shafiq invited el-Din to form a committee to prepare a draft law that prohibits any conflict of interest among high officials, reported Reuters. El-Din is a well-regarded technocrat considered close to Gamal Mubarak and his circle. El-Din previously served as the chairman on the board of directors of the Egyptian General Authority for Investment and Free Zones, and held a similar position at the General Authority for the Development of the North West Gulf of Suez Special Economic Zone. BM
