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Business / Middle East Business

Egyptian court suspends implementation of central bank decree to limit CEO terms

Published: 26 Jun 2016 - 02:16 pm | Last Updated: 02 Nov 2021 - 05:21 am
Peninsula

 

CAIRO: An Egyptian court suspended the implementation of a Central Bank decree to limit CEO terms on Sunday, according to the lawyer who appealed the decision. 

In March, Egypt's central bank set a 9-year term limit for all bank CEOs which would have forced eight of the country's banking heads out of their positions.

Reuters