عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Egypt's CIB Appoints Chairman Ezz al-Arab as CEO

A general view shows Tahrir Square following the coronavirus outbreak in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square following the coronavirus outbreak in Cairo, Egypt July 13, 2020. (Reuters)
TT
TT

Egypt's CIB Appoints Chairman Ezz al-Arab as CEO

A general view shows Tahrir Square following the coronavirus outbreak in Cairo, Egypt July 13, 2020. (Reuters)
A general view shows Tahrir Square following the coronavirus outbreak in Cairo, Egypt July 13, 2020. (Reuters)

Commercial International Bank (CIB), Egypt's biggest private bank, has appointed long-serving chairman and former CEO Hisham Ezz al-Arab as its chief executive, it said in a statement on Monday.

Board member Neveen Sabbour will replace him as chairman, the statement said. Ezz al-Arab replaces current CEO Hussein Abaza and will occupy the position for three years, according to Reuters.

The new appointments are part of a process "to lead the bank's multifaceted business transformation and continue its program to support recognized potential future leaders," the statement said.

Ezz al-Arab, chairman and managing director since 2002, was ordered to step down in October 2020 by the central bank, which cited "compliance concerns".

The central bank governor at the time, Tarek Amer, resigned in August 2022 during a currency crisis, a year before his term ended. Ezz al-Arab was asked to return as chairman in the December that followed.

Most Viewed

 
 
Business

WEF, GCF to Establish Global Center for Cyber Economics in Riyadh

The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
TT
TT

WEF, GCF to Establish Global Center for Cyber Economics in Riyadh

The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA

The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) announced the signing of an agreement to establish the Center for Cyber Economics (CCE) in Riyadh, during the WEF Annual Meeting 2025 in Davos, Switzerland.
GCF and WEF aim to establish the Center as a global platform that addresses the economic dimension of cybersecurity. The Center will advance knowledge to enable decision-makers worldwide to build a deep understanding of the close relationship between economics and cybersecurity. The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world, SPA reported.
Governor of the National Cybersecurity Authority Eng. Majed bin Mohammed Al-Mazyed, acting on behalf of the Board of Trustees, Global Cybersecurity Forum, noted that the establishment of the Center – a collaboration between GCF and WEF – forms part of cybersecurity efforts in Saudi Arabia that have culminated in its world-leading position in the sector. The Kingdom’s contributions to the cybersecurity sector at local, regional, and global levels have gained the Saudi model of cybersecurity recognition for its successful and pioneering approach.
Al-Mazyed added that the development of the Center for Cyber Economics sits within the framework of the Kingdom of Saudi Arabia’s aims to build global platforms and launch pioneering global initiatives in various fields related to the sector, including the establishment of GCF as an institute by Royal Decree in 2023.
GCF aims to push knowledge boundaries, build the foundations for cooperation in Cyberspace, and leverage opportunities within the cybersecurity sector to enhance cyber resilience and enable prosperity around the world.