Egyptian President Abdel Fattah Al-Sisi has signed Presidential Decree No. 733 of 2025, reconstituting the Board of Directors of the Central Bank of Egypt (CBE) and renewing Hassan Abdallah's appointment as Chairman and Acting Governor for an additional one-year term. The decree took effect from 27 November 2025, as confirmed in a statement published on 23 December 2025.
Abdallah, who has served in the acting governor role for an extended period, will continue to lead the CBE as Egypt works through a complex macroeconomic programme that has included a significant currency devaluation, an engagement with the International Monetary Fund and a sustained effort to bring inflation under control. His renewal signals presidential confidence in the continuity of monetary policy management at the institution during this sensitive period.
NEW BOARD COMPOSITION SET BY PRESIDENTIAL DECREE
Presidential Decree No. 733 of 2025 also establishes the new composition of the CBE's Board of Directors. The reconstituted board includes Deputy Governors Rami Abou El-Naga and Tarek El-Khouly, both of whom retain prominent roles within the central bank's executive structure. The appointment of specific board members by presidential decree is consistent with the CBE's legal and governance framework, which grants the head of state formal authority over the bank's board composition.
The reconstitution of the board through a formally published presidential decree provides a degree of institutional clarity regarding the CBE's leadership at a critical juncture. Egypt's monetary authorities have been subject to intense scrutiny from domestic observers, international creditors and ratings agencies as the country pursues economic stabilisation, and a confirmed and legally constituted board structure is an important signal of governance continuity to those stakeholders.
The effective date of the decree — 27 November 2025 — predates the public announcement, which was made in late December 2025. This indicates that the board reconstitution had been under formal preparation for several weeks before the decree was publicly published, a pattern consistent with the procedural and administrative requirements governing Egyptian presidential executive orders, which are issued through the Official Gazette and follow a specific drafting and review process before coming into force.
ABDALLAH CONTINUES AMID ECONOMIC REFORM PROGRAMME
Hassan Abdallah's ongoing tenure as Acting Governor reflects the Egyptian government's deliberate preference for leadership continuity at the CBE during a period of significant economic adjustment. His acting designation — rather than a permanent governorship — has remained in place for an unusual length of time by regional standards, a situation that has attracted commentary from analysts, though the renewal by presidential decree makes clear that the current arrangement will continue for at least a further twelve months.
The CBE's mandate encompasses monetary policy, foreign-exchange management and banking sector regulation, all of which carry heightened importance given Egypt's current economic circumstances. Abdallah's renewal, alongside the confirmed board composition including Deputy Governors Rami Abou El-Naga and Tarek El-Khouly, provides an institutional foundation from which the central bank can continue its engagement with the IMF reform agenda. The clarity provided by a formally reconstituted board is also expected to support Egypt's efforts to rebuild its foreign-exchange reserves and restore durable macroeconomic stability over the medium term.