AAIB appoints new managing director

The Arab African International Bank (AAIB) appointed Tamer Waheed as its new managing director, succeeding Sherif Elwy (LinkedIn), Al Borsa reports. Waheed served as a board member and before that as head of the risk sector at the bank. Elwy steps down after serving as the bank’s managing director for more than four-and-a-half years.

Waheed on the board: Waheed has also been appointed to AAIB’s board as a non-executive director representing the Central Bank of Egypt, the central bank said in a statement.