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Who is the new Finance Minister?

It is time for Islamic Finance: PM Hisham Kandil appointed Fayad Abdel Moneim Hassanein as the new Minister of Finance in his last Cabinet shuffle.

His choice assures what many had been expecting: the financial trend of Egypt is definitely heading to Islamic Finance, despite worries and concerns from analysts and experts.

The new Finance Minister is the current President of the Economics Department in the Faculty of Commerce in Azhar University (Women’s branch) and an economic consultant to the Center of Doctrinal and Economic Studies in Cairo. He is an expert in evaluating the economic performance of banks – especially Islamic, as his Ph.D thesis implies.

Having a resume overflowing with scientific publications and consultancy positions, it is worth mentioning that Hassanein was also the Manager of the Islamic Economic Center for Research, Training and Consultancy for the International Islamic Investment and Development Bank in Cairo and an Expert at the Center for Economic Consultancies and Studies in Cairo in the fields of feasibility studies, training and consultancy.