CAIRO: Medhat Hassanein, former Finance Minister and a finance professor at the American University in Cairo, was appointed as a member on the World Bank's Joint Committee on the Remuneration of Executive Directors (JCR). JCR is changed yearly and makes recommendations to the World Bank's Board of Governors as well as the International Monetary Fund on matters concerning the remuneration and benefits of executive directors and their alternates, said an AUC statement. The JCR also has two members chosen from former governors of the bank. They are selected by the chairman of the Board of Governors by a collaborative nomination between the president of the bank and the managing director of the fund. Hassanein's work will entail reviewing background material and information concerning the roles of the executive directors from the two institutions, their salaries and rewards. He served as Egypt's finance minister from 1999 to 2004 and will now serve on this World Bank committee for two years. Hassanein graduated from Cairo University and holds an MBA from the University of New York and a PHD from The Wharton School, University of Pennsylvania. "It is an honor to be selected to serve on the JCR especially with this scope of work and with such meticulous selection process, he said. As Minister of Finance, Hassanein established the second generation of fiscal policy reforms, including tax and customs reforms, revised the pension system and reviewed the government's procurement system. -Daily News Egypt
