The Board of Beltone Financial convened today and announced that the Former investment minister and Masar chairperson, Dalia Khorshid, has been appointed as the new Managing Director and CEO of Beltone Financial. The board’s decision was effective as of Tuesday, August 9th. The board trusts in Dalia’s expertise that she will bring to her new position.

The board decided to hold its general assembly meeting on August 31st to discuss electing a new board driven by the company’s new majority acquisition by the UAE- based Chimera Investments through its subsidiary Chimpe1 Investment.

Aladdin ElAfifi has stepped down from his role as a non-executive board member at Beltone after assuming a new position as CEO of EFG Hermes’ non-bank financial institutions (NBFI) platform.

Chimbi 1 Investment, the UAE-based Chimera Investment, acquired the 56% stake at a total value of EGP 384.795 million, after making an acquisition offer of controlling stake up to 90% and a minimum of 51% stake.

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