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Al Baraka Bank–Egypt names new chairman

Al Baraka Bank–Egypt names new chairman

Mubasher: The board of Al Baraka Bank–Egypt has elected Ibrahim Al-Shamsi as a new chairman, to succeed Adnan Ahmad Youssef, who was appointed to the position in 2008.

The change in management was conducted in accordance with the bank’s new governance rules, the Egyptian unit of Bahrain's Al Baraka Banking Group, a sharia-compliant lender, said in a statement. 

The new chairman, Ibrahim Al-Shamsi, is an expert UAE banker with a 45-year of experience in the banking and financial services.

Al Baraka Bank – Egypt was established in March 1980. The bank’s total assets reached EGP 62.5 billion at the end of 2018.