Abu Dhabi, UAEWednesday 23 September 2020

Man arrested after Abu Dhabi Islamic Bank chief found dead in Egypt home

A man has been arrested in connection with the murder of Abu Dhabi Islamic Bank’s Egyptian chief executive Nevine Loutfy, whose body was found in her home on Tuesday morning.
Nevine Loutfy, chief executive of Abu Dhabi Islamic Bank, who was found murdered at her home on the outskirts of Cairo. Courtesy Aletihad
Nevine Loutfy, chief executive of Abu Dhabi Islamic Bank, who was found murdered at her home on the outskirts of Cairo. Courtesy Aletihad

DUBAI; CAIRO // A man has been arrested in connection with the murder of Abu Dhabi Islamic Bank’s Egyptian chief executive Nevine Loutfy, whose body was found in her home Tuesday morning.

The Egyptian interior ministry said in a statement on Wednesday it had arrested a suspect after he checked himself in to an addiction clinic.

Loutfy was the first woman to head an Islamic bank. Her body was found on Tuesday in 6th of October City, a rich satellite city west of Cairo, with multiple stab wounds.

“We can confirm that Adib’s chief executive in Egypt Nevine Loutfy has passed away. We offer our deep condolences to Nevine’s family and colleagues,” Adib said on Twitter.

An Adib spokesman said the bank could not provide further information because the matter was still under investigation.

The interior ministry said the suspect confessed to breaking in through a kitchen window and escaped in Loutfy’s car before abandoning it after a crash.

He then attempted to hide from police by checking into the clinic, according to ministry. The suspect worked as a security guard in Loutfy’s compound before being dismissed for misconduct and substance abuse.

Interior ministry sources told local media that security cameras at the victim’s house and her neighbour’s, Egyptian action star Ahmad Al Sakka, did not record the murder.

Under Noutfy’s administration, Adib Egypt was considered a top Islamic bank and a top performer among Egyptian banks.

“It was an honour to have known such a great person and my heartfelt condolences go out to her family and colleagues,” Tirad Al Mahmoud, chief executive of Adib, posted on Twitter.

Egypt’s stock exchange on Tuesday halted trading in shares of Abu Dhabi Islamic Bank Egypt for 10 minutes after Loutfy’s death.

“There is a statement from the bank stating that Ms Nevine Lotfy has died... so the bourse management decided to halt trading in the shares of the bank for 10 minutes ... with the suspension of all bids and offers registered on the bank’s shares before this announcement,” the bourse said in a statement to Reuters.

dmoukhallati@thenational.ae

foreign.desk@thenational.ae

Updated: November 23, 2016 04:00 AM

Editor's Picks
THE DAILY NEWSLETTER
Sign up to our daily email
Most Popular