The board of directors of Suez Canal Bank has elected Hussein El-Refaie as the new chairperson of the bank, succeeding Tarek Kandil, whose term ended in April, 2017. El-Refaie used to serve as the chief financial officer and executive director at the National Bank of Egypt (NBE). On the general assembly of the Suez Canal Bank elected a new managing board for a three-year term. Omar El-Sagher, who used to be the representative of the Libyan Foreign Bank (LFB), was appointed vice chairperson of the bank for executive affairs. The bank's new board of directors also includes Tarek Helmy, Mohamed Abdel Aal, and Omar El-Derainy as representatives of the Arab International Bank.