EFSA Names Alaa El-Gharably As CIS Chairman

The Egyptian Financial Supervisory Authority (EFSA) has named Alaa El-Gharably as chairman of Cooperative Insurance Society Egypt.

Abdel Monem Bakheet, former chairman of CIS, submitted his resignation to the Society. Afterwards, he retracted his resignation, but the board of directors rejected such move as it had already asked Alaa El-Gharably, former representative of Social Fund for Development (SFD) at CIS’ board of directors, to hold the chairman position.

El-Gharably will hold a meeting for the board of directors to prepare for the general assembly meeting slated to be held by the end of this week.