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المصري اليوم
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Ziad Bahaa El-Din Affirms Legal Status of Alexandria Bank Board Membership
Dr. Ziyad Bahauddin, former Deputy Prime Minister and economic expert, confirmed that the membership of current and former ministers on bank boards requires careful scrutiny to distinguish between what violates the law and what is legally permissible. He explained that the law allows a current minister to serve on the board of a bank representing public funds, but prohibits holding board membership in private banks in a personal capacity without representing public assets. The latter situation is considered a serious violation that warrants punishment. He emphasized that the identity of a minister or bank chairpersons linked to ministries relates to their official duties, and that he is not currently serving on the boards of Alexandria Bank and Al Baraka Bank simultaneously. He clarified that he resigned from previous board memberships after assuming his ministerial position in 2013. Additionally, he underscored the importance of reviewing conflict-of-interest files regarding ministers’ memberships in banks to ensure legal compliance and avoid violations.
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