Tariq Amir has been appointed Governor of the Central Bank of Egypt (CBE) following a week of fresh devaluation of the pound and the sudden resignation on 21 October of the current CBE chief Hisham Ramiz.

Mr Amir, who previously served as the CBE Deputy Governor will assume his new position on 27 November for a four-year term. Traders welcomed Mr Amir’s appointment, expecting to see a new approach that could help to ease the country’s foreign currency crisis. (CONTINUED - 664 WORDS)