Banking sources said that Dr. Mostafa Madbouly, Prime Minister, will issue a decision to change the board of directors of the National Bank of Egypt and the Bank of Egypt, the two largest government banks in the banking system, based on the nomination of Hassan Abdullah, Governor of the Central Bank.

The decision includes appointing Hisham Okasha, Chairman of the National Bank of Egypt, to head Banque Misr, and appointing Mohamed El-Etreby, Chairman of Banque Misr, to head the National Bank of Egypt.

This means that the positions will be swapped, with El-Etreby replacing Okasha at the National Bank of Egypt, and Okasha replacing El-Etreby at Banque Misr.

In September 2023, Dr. Mostafa Madbouly, Prime Minister, issued a decision to extend the term of the boards of directors of the National Bank of Egypt and the Bank of Egypt - the two largest government banks and arms of the Central Bank to implement its monetary policy - in their full formation until the approval of the 2023 budget.