Change in CIB's Board of Directors

RNS Number : 1534M

Commercial Intnl Bank (Egypt) SAE

19 May 2022

 

RELEASE

CAIRO - May 19^th, 2022

Commercial International Bank - Egypt (CIB) would like to announce that the CBE approved the appointment of Mr. Fadhel Al Ali and Mr. Aziz Moolji as non-executive Board members representing the interests of Alpha Oryx Ltd. - a subsidiary of ADQ- in CIB following its recent acquisition of 18.595% of the Bank on April 12^th, 2022. The Board will advise the General Assembly with the changes in the Board structure in its first upcoming meeting.

Mr. Fadhel Al Ali serves as Chairman of Dubai Financial Services Authority (DFSA), and brings 30 years of experience in multiple industries including real estate, hospitality, investment, and banking. Mr. Al Ali started his career as a banker in 1989 in Citibank, and led the financial restructuring of Dubai Holding's investment groups in which he served as its Chief Executive Officer until 2017 before serving as FAB's Deputy CEO and Group COO from 2017 until 2021.

Mr. Aziz Moolji serves as ADQ's M&A and Alternative Investments Director, prior to which he was Dubai Holding's Vice President of Investment and Portfolio Management from 2019 until 2021. Throughout his career, Mr. Al Moojli held several positions in global investment banks such as Goldman Sachs and Merrill Lynch.

http://www.rns-pdf.londonstockexchange.com/rns/1534M_1-2022-5-19.pdf

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