The Sovereign Fund of Egypt will soon be under new management: The Sovereign Fund of Egypt (SFE) CEO Ayman Soliman has resigned from his post, according to media reports, citing anonymous sources they say are familiar with the matter (here, here, and here). Soliman reportedly submitted his resignation ahead of the cabinet shuffle that took place in July and a draft law that was sent to the House to propose putting the fund under the purview of the prime minister’s office, one source told Asharq Business.

Soliman was appointed to head the fund in 2019 for a three-year term, which was then extended. “With the reshuffle, Egypt wanted to present a fresh image, and that meant Soliman had to step down," one unnamed source told Reuters.

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