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Egypt's central bank confirms appointment of new CIB chairman

CAIRO, Oct 23 (Reuters) - Egypt’s central bank on Friday confirmed the appointment of Sherif Samy as non-executive chairman of CIB bank, adding that Samy should be well placed to address the central bank’s regulatory compliance concerns.

CIB remains sound and its depositors’ funds are “fully secure”, the central bank said, adding that the CIB board was committed to formulating a “corrective plan” to rectify compliance issues. (Reporting by Nadine Awadalla Writing by Aidan Lewis Editing by David Goodman )

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