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Alumnus Tarek Amer ’80 Appointed Central Bank Governor

AUC School of Business alumnus Tarek Amer ’80 has been appointed as Egypt’s new governor for the Central Bank of Egypt (CBE) by Egyptian President, Abdel Fattah El-Sissi.

Oct 27, 2015

10/26/2015 

Amer, who has a bachelor’s degree in economics and management, has more than 27 years of experience in international banking under his belt, including the Middle East and North Africa (MENA), Turkey, the Gulf, and Asia. He was previously a deputy governor of CBE and served as chairman between 2008 and 2013 of the state-owned National Bank of Egypt, where he undertook reforms that were “applauded by regional and international financial institutions,” the presidency said in its statement.

He has worked in more than 10 countries in the Middle East. The positions he has held include the vice chairman of the board of Banque Misr in Egypt, the General Manager of Banks of Bahrain and Kuwait, as well as holding several managerial positions in Citibank, Egyptian American Bank, Bank of America and Bank of Credit and Commerce.

He increased the balance sheet for of the National Bank of Egypt by LE170 billion in five years after he was appointed president. He succeeded in bridging the bank’s gap of bad debts, which was more than LE10 billion, and in achieving a net profit of LE300 million in 2012, all despite the bad economic conditions that followed the January 25 Revolution which makes experts optimistic that he could save the economy, according to Bloomberg.