Managing director, non-executive chairman named for new central clearing and depository company

Yasser Zaazaa (bio) has been appointed managing director of the newcentralclearing and depository company for state debt issuances, while Central Bank of Egypt Deputy Governor Rami Aboul Naga (LinkedIn) was named non-executive chairman, Al Mal reports, citing unnamed sources. The new state-run company will handle all the clearing and registry of government debt issuances and its existence is one of the key conditions to local debt being cleared by the Belgium-based clearinghouse Euroclear.