saib announces the appointment of Fahmy Hanna as a non-executive chairman of the board
First Bank
saib announced in a statement to the Egyptian Exchange today the approval of its board of directors to accept the resignation of Tarek El Kholy from the bank's board of directors, effective November 27, 2023, based on the decisions of the President of the Republic, No. 550 and 551, appointing El Kholy as the Deputy Governor of the Central Bank of Egypt.
Approval of appointing Mr. Fahmy Kamal Fahmy Hanna as Saib Bank's Non-Executive Chairman effective from 27-11-2023 until the date of approving the new Board of Directors cycle on March 2024.
Approval of appointing Mr Afdal Elsayed Naguib as saib bank's president of the Executives in line with Article n. 82 of companies' law n.159 of Year 1981, and Article b. 247 of the Executive Regulations of the same law, effective from 27-11-2023 until the date of approving the new Board of Directors cycle on March 2024. And granting him the same authorities granted to the position of Chairman and Managing Director stipulated in the bank's Articles of Association, and also the authorities in the bank's commercial register.
Taking into consideration that the above mentioned second and third resolutions are subject to receiving CBE's written approval.
Other subjects related to saib's internal business.