Cairo – Mubasher: Egypt’s President, Abdelfattah El-Sisi, issued a decree to appoint Tarek Amer as a Presidential Advisor, Ahram Gate reported on Wednesday.

The presidential decree came in line with the resignation of Amer from his position as the Governor of the Central Bank of Egypt (CBE).

Earlier this week, CBE Deputy Governor, Gamal Negm, refuted the news stating that Amer had resigned from his position.

Negm elaborated that the CBE Governor term would end in November 2023, noting that appointing the governor is subject to a presidential decree according to the Egyptian constitution.

Amer first assumed the CBE Governor position in 2015, a decision that was extended for another four years in 2019.

It is worth noting that Global Finance Magazine has recently named Amer among the top central banks' governors across the world in 2022 for the second year in a row and for the fourth time over the last six years.

The CBE is expected to hold August Monetary Policy Committee (MPC) meeting on Thursday, 18 August. Analysts polled by Reuters suggested an increase of 50 basis points (bps) in the overnight deposit rate to keep inflation in check.