Egypt's El-Okdah to serve second term

Farouk el-Okdah, the governor of the Central Bank of Egypt, will head the central bank for another four years, it emerged on Wednesday.

MENA, a state-owned news agency said that Hosni Mubarak, Egypt's president, had approved El-Okdah, who became governor in December 2003, serving a second term.

El-Okdah worked at the Bank of New York, rising to the position of vice president by the time he left in 2002. Before becoming governor, he headed the National Bankof Egypt, the country's largest bank.

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