Cairo – Mubasher: Arabia Investments Holding announced the appointment of Hazem Mohamed Mostafa as the company’s Managing Director and CEO as of 1 May, according to a bourse disclosure on Tuesday.

Mostafa has extensive experience for 38 years in local and regional banks as he held several leading positions, including the Senior Deputy CEO of Al Baraka Bank Egypt, overseeing the finance and investment sectors as well as business lines.

In 2020, Arabia Investments Holding recorded EGP 85.47 million in consolidated net profits before minority shareholders’ rights, up from EGP 80.93 million a year earlier.