MOVES- FRA approves Prime Holdings’ removal of Khaled Rashed as CEO: The Financial Regulatory Authority (FRA) has ratified Prime Holdings’ board of directors’ decision to appoint vice chairman Mohamed Maher as CEO after removing Khaled Rashed, according to the local press. Rashed, who is the CEO of Sameem Capital, which holds a 27% stake in Prime Holdings, lodged a legal complaint with the FRA over Prime’s board meeting that saw his removal. The regulator rejected the complaint.

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