The president of Egypt, Abdel Fattah al-Sisi, named Hassan Abdallah the acting governor of the Central Bank of Egypt on August 18, according to media reports. Abdallah succeeds Tarek Amer, who resigned abruptly to become an adviser on the presidential staff.

Under Egyptian law, the president nominates a candidate for governor, who is then ratified by the lower house of parliament, the house of representatives. Governors serve four-year terms. Amer began his first four-year term in November 2015