Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) has made a significant appointment to its board of directors, as Egypt’s Minister of International Cooperation, Rania Al-Mashat, joins the board as an independent non-executive member. The decision was announced in a bourse filing on Monday.
The appointment came with the authorization of Egypt’s Prime Minister, Moustafa Madbouly, who allowed Al-Mashat to take on the additional role while retaining her current position as Minister of International Cooperation.
ADIB-Egypt is majority-owned by Abu Dhabi Islamic Bank, holding a 53.2 percent stake. Additionally, Emirates International Investment Company and Respond Investment possess stakes of 13.44 percent and 5.19 percent in ADIB-Egypt, respectively.
Rania Al-Mashat brings a wealth of experience to her new position, having held several prominent roles in both the economic sector and government. Previously, she served as an Advisor to the Chief Economist at the International Monetary Fund (IMF).
The addition of Minister Rania Al-Mashat to ADIB-Egypt’s board of directors is expected to further strengthen the bank’s leadership and strategic decision-making, bringing valuable insights from her extensive expertise in international cooperation and economic matters.
