When Atef Ebeid became Egypt’s prime minister in November last year and gave responsibility for the banking sector to Youssef Boutros Ghali, former economy minister and IMF staffer, the cheers could be heard across Cairo. Here at last was an administration that understood how the financial markets worked and would sweep away the old guard holding up the modernization of the industry.
No one was more pleased – or so it seemed – than Mahmoud Abdel Aziz, the chairman of the National Bank of Egypt (NBE), the country’s largest bank.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
