Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Hisham Ramez

Hisham Ramez

Industry: Banking & Finance

Company: Central Bank of Egypt

Designation: Central Bank Governor, Egypt

Country: Egypt

What a big job he has – in January President Mohamed Mursi on named Hisham Ramez, a former deputy central bank governor, as the new head of the Central Bank of Egypt (CBE) after accepting the resignation of longstanding CBE governor Farouq El-Oqda, who has headed the bank since 2003.

Ramez  formally took up the position on 2 February. His first term will expire on 23 November 2015. Ramez served as CBE number-two from 2008 to 2011, after which he briefly served as vice-chairman and managing director for Egypt’s Commercial International Bank (CIB).

Egypt has insists the change is unrelated to the recent devaluation of the Egyptian pound.

In an inauspicious start to his term, Ramez survived a daring robbery in Cairo in February this year, in which one of his security guards was killed. As Egypt’s economy wobbles, locals will be hoping his plans at the central bank progress more smoothly.