Mohammed Barakat, Chairman of Banque Misr, has been named the Chairman of the Union of Arab Banks for a three-year term, following Adnan Youssef, the former chairman of the union.

Barakat was selected by the Union’s general assembly held in Bahrain. Barakat is the Chairman of Banque Misr, the second largest public sector bank in Egypt. As well as being the Vice Chairman of Union of Arab Banks for several rounds, Barakat was also the Chairman of Federation of Egyptian Banks for two consecutive rounds.