Governor of Egypt’s Central Bank receives African Development Bank Award

Governor of the Central Bank of Egypt (CBE) Tarek Amer received the African Development Bank Award on Tuesday, after being selected as the best governor of central banks in Africa.

Amer received the award during a ceremony in Malabo, Equatorial Guinea which hosts the annual meetings of the African Development Bank Group (AFDB).

Amer succeeded to manage Egypt’s economic reform program from 2016 till present.

The bank group awards central bank governors every year to commemorate their accomplishments in the monetary policy and the banking sector.

Amer was the deputy governor in 2008, and played a role in preparing and implementing a reform program for the monetary policy and the banking sector. In the same year he was appointed president of the National Bank of Egypt, whose balance sheet he increased by LE170 billion in five years.

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.

Edited translation from Al-Masry Al-Youm

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