Yasser El-Mallawany, chief executive of EFG-Hermes, has been prevented from leaving Egypt. According to Reuters, the head of Egypt’s largest investment bank learned of his travel ban while trying to fly to the UAE.
Shares in the group fell more than 5 per cent in trading in Egypt on Monday, sparking an automatic suspension of trading. Shares fell 63 per cent in 2011. EFG has not released any comment further than an RNS statement confirming the travel ban.
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