Ahmed Abdelrahman El Sheikh (LinkedIn) has been named head of the Egyptian Exchange (EGX) for a one-year term starting 26 August, a cabinet statement said on Thursday. El Sheikh succeeds Ramy El Dokany, who had been named to a one-year term in August 2022.

About El Sheikh: El Sheikh is an EGX veteran, having first joined the bourse 30 years ago in 1993, according to the EGX website. He has been serving as its vice chairman since 2018 and sits on the boards of several bourse-affiliated entities, including EGID and the Egyptian Investor Protection Fund. El Sheikh was also at the Financial Regulatory Authority (FRA) for six years from 2005-2011 and briefly worked at Misr for Central Clearing, Depository, and Registry (MCDR) in the ‘90s. He holds an MBA from the Arab Academy for Management, Banking and Financial Sciences and an BSc in accounting from Ain Shams University.

The head of the EGX is appointed by the prime minister. The news received wide coverage in the domestic press: Al Mal | Al Borsa | Asharq Business.

A number of key economic appointments have since last year been for only one 12-month term, including head of Financial Regulatory Authority (where Mohamed Farid was just reappointed) and of the Central Bank of Egypt (where Hassan Abdalla’s tenure as acting governor was recently extended for another 12 months).

A new public prosecutor: Mohamed Shawky Ayad, the president of the Alexandria Court of Appeal, is set to replace Hamada El Sawy as the public prosecutor on 19 September, Ittihadiya said Thursday. El Sawy has held the position since September 2019.

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