Hazem Hassan heads new GAFI board.CAIRO: Hazem Zaki Hassan of KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm)
KPMG Kaiser Permanente Medical Group
KPMG Keiner Prüft Mehr Genau (German)
KPMG Kommen Prüfen Meckern Gehen was named the chief of the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of the General Authority for Investment and Free Zones (GAFI GAFI Groupe d'Action Financière sur le Blanchiment de Capitaux
GAFI General Authority for Investment and Free Zones (Egypt)
GAFI Gruppo Di Azione Finanziaria Contro Il Riciclaggio di denaro ), according to a statement on the investment ministry's website.
Prime Minister Ahmed Nazif announced GAFI's new board of trustees, with Hassan succeeding Ziad Bahaa Eldin, who served as chairman for two terms and now heads the Egypt Financial Supervisory Authority (EFSA).
Members of the new board include Saad Sallam, Mohamed El-Dakroury, Samir Radwan, Samir Hamza ham·za also ham·zah
A sign in Arabic orthography used to represent the sound of a glottal stop, transliterated in English as an apostrophe. , Laila El-Khawaga, Amr Abdel Sameea, Abdel Hamid Ibrahim and Abdel Fatah El-Gebaly as experts.
Naguib Sawiris, Nasser El-Khorafy, Abdel Rahman Hassan El-Sharbatly, Mostafa El-Naggar and Alaa Arafa represent Egyptian investors.
On the board sits one of the deputies of the Central Bank of Egypt
"Not all members have political affiliations with the National Democratic Party (NDP), half of them are not even members," El-Gebaly, who is also an economic expert at Al-Ahram Center for Political and Strategic Studies, said.
GAFI's board of trustees plays an advisory and supervisory role on investments in Egypt.
"We follow up with international reports, updates and trends to give suggestions to the executive board," El-Gebaly explained, adding that the executive board is not obligatd to heed these recommendations.
The board comprises experts from different business fields and political affiliations and members serve on a voluntarily basis.
"The board was established under the investment law, and its mission, as a consultancy council, is to study the investment atmosphere, the incentives, the obstacles and provide policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental to improve it, in addition to writing analytical reports to analyze the investment environment in Egypt," said Investment Minister Mahmoud Mohieldin in a statement on the ministry's website.
Daily NewsEgypt 2009
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