Egypt Independent

CBE deputy chief denies reports of governor’s resignation

Central Bank of Egypt Deputy Governor Nedal al-Asar has denied reports that CBE Governor Farouk al-Oqda submitted his resignation to President Mohamed Morsy.

Turkish news agency Anadolu had earlier reported that Oqda informed President Mohamed Morsy of his intention to leave his post by end of December, insisting that his original resignation, which he submitted in June, be accepted.

Speaking on condition of anonymity, sources told Anadolu that Oqda nominated three potential successors for Morsy to choose between.

The three successors nominated by Oqda include Federation of Egyptian Banks head and former CBE Deputy Governor Tareq Omar, Banque Misr head Mohamed Barakat and Commercial International Bank managing director Hesham Ramez.

Sources added that Morsy met with Oqda and Prime Minister Hesham Qandil Sunday and convinced Oqda to stay at his post until the end of his term in November 2015.

Oqda had originally submitted his resignation in June for what he described as “health-related” reasons.