NEWS

Nidal El-Kassem Assar is the chief executive officer and managing director of EGBANK in March 2015. EGBANK became one of Egypt’s major banking institutions, according to various ratings and rankings, with a unique blend of regional investors from Egypt and the gulf as both Saudi and Kuwaiti’s own 40% of the bank shares.

Prior to joining EGBANK, Assar’s 20+ years career in banking and finance saw him take on numerous leadership roles in key private and public sector financial institutions, as well as sitting on the boards of some of Egypt and the region’s most renowned organizations.

Assar kicked off his career at Arab Bank in 1995 as a credit administrator, rising through the ranks to hold the position of capital markets and business development manager for Treasury in 2001. In 2004, Assar joined the Central Bank of Egypt (CBE) as head of the Reserve Management Unit. There, he continued his rise, until his appointment as deputy governor for monetary stability in 2013.

During his time there, Assar was a key member of the country’s economic reform program launched by the CBE to overhaul Egypt’s banking system in accordance with international best practices.

Assar also sits on the boards of some of Egypt’s most prestigious organizations such as Cairo 3A for International Industries, Arab Contactors, Social Housing & Mortgage Finance Fund, Administrative Capital for Urban Development, NI Capital, AUR, and EgyptAir. He previously served on the boards of the Central Bank of Egypt, MICOR, Metallurgical Industries Holding, the Egyptian Stock Exchange, Egyptian Post, General Authority for Supply and Commodities, Arab International Bank, MCDR for Clearing and Depository, Egyptian Banking Institute, United Bank of Egypt, National Investment Bank and Chairman of Conrad Egypt.

Assar graduated with a BA in Economics from the American University in Cairo in 1995 and earned his Masters Degree in Finance from both Harvard University and Syracuse University in 2001. In 2012, he graduated from the Advanced Management Program for Global Executives at the prestigious Wharton Business School, University of Pennsylvania.