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MP defends Minister Rania al-Mashat post

Egyptian MP and journalist Mostafa Bakri has defended International Cooperation Minister Rania al-Mashat on Friday following calls for her to resign from her position as minister or from her post at the Abu Dhabi Islamic Bank (ADIB).

According to Bakri, Mashat does not receive a monthly salary in dollars from the ADIB.

“The Minister of International Cooperation does not receive a monthly salary in dollars from Abu Dhabi Islamic Bank, rather she may have an annual reward in Egyptian pounds,” he explained.

He claimed that these rumors exist to slander her.

The Abu Dhabi Islamic Bank – Egypt announced two weeks ago that it has received the approval of the Prime Minister to authorize Mashat to hold her position alongside her membership of the bank’s board of directors as a non-executive (independent) board member.

In a statement to the Egyptian Stock Exchange, the bank said that the appointment will be presented to the Ordinary General Assembly of the bank at its first upcoming meeting, in accordance with Article 20 of the bank’s statute.

MP Mohamed al-Samoudi called for Mashat to resign from either her position as a minister or as a board member of an Arabian Gulf bank.

Samoudi submitted a parliamentary question to House of Representatives Speaker Hanafy al-Gebaly regarding the matter.

The question was directed to Prime Minister Mostafa Madbouly about whether the decision violated the law and the constitution.

The ADIB – Egypt is one of three Islamic banks that provide banking services in the Egyptian banking sector in accordance with the principles of Islamic Sharia.

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