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Thu 24 Nov 2016 12:17 PM

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Man arrested in connection with murder of ADIB Egypt CEO

Nevine Loutfy found dead at home in Cairo on Tuesday, suspect reportedly checked into addiction clinic

Man arrested in connection with murder of ADIB Egypt CEO

Police have arrested a man in connection with the murder of Abu Dhabi Islamic Bank (ADIB)’s Egypt CEO, Nevine Loutfy, after her body was found at her home in Cairo on Tuesday morning.

The Egyptian interior ministry said in a statement on Wednesday that it had arrested a suspect after he checked himself in to an addiction clinic, according to local media.

Nevine Loutfy’s body was found with multiple stab wounds at her home on the outskirts of the Egyptian capital in the early hours of Tuesday morning.

An investigation and forensic team arrived at the scene shortly after the incident.

An ADIB spokesperson said in an emailed statement to Arabian Business on Tuesday: “We can confirm that ADIB’s CEO in Egypt Nevine Loutfy has passed away.

According to the reports, Egypt’s interior ministry said the suspect confessed to breaking in through a kitchen window and escaped in Loutfy’s car before getting into a crash and abandoning it after a crash.

Loutfy became the first Arab woman to lead an Islamic bank when she joined ADIB in 2008. Under her administration, ADIB Egypt was considered a top performer among Egyptian banks.

Egypt’s stock exchange on Tuesday halted trading in shares of Abu Dhabi Islamic Bank Egypt for 10 minutes after news of her death.

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