Abu Dhabi Islamic Bank Egypt appoints Egypt’s Minister of International Cooperation Rania Al-Mashat as board member

Abu Dhabi Islamic Bank Egypt (ADIB Egypt) has named Rania Al-Mashat, Egypt’s Minister of International Cooperation as a member of the board of directors.
Al-Mashat, Ahram Online reports, received a special waiver from Prime Minister Mostafa Madbouly to serve in the new position while maintaining her portfolio in the Egyptian Cabinet.
Abu Dhabi Islamic Bank owns 53.2 percent of ADIB Egypt. Emirates International Investment Company and Respond Investment also hold a 13.44 percent and a 5.19 percent stake.
Around 35.2 percent of ADIB Egypt’s capital is listed in the Egyptian Exchange.
Prior to the position of minister, al-Mashat held several prominent positions in the economic sector and government. She served as an Advisor to the Chief Economist at the IMF and as Minister of Tourism from 2018-2019.
The 48-year old politician graduated from the American University in Cairo and holds a PhD in Economics from the University of Maryland in the US. Emirati investments in Egypt rose by 300 percent to a record $5.7 billion during the FY 2021/22.