Mohamed Shamy Adam has been dismissed from the boards of the SME Development Finance Corporation (SDFC) and the Regional Development Corporation (RDC), as well as from his role as Chairperson of the RDC.

The Privatization and Corporatization Board (PCB) announced the dismissal via a statement issued on X. PCB confirmed that Shamy was formally removed from both boards yesterday.

Shamy had been appointed to the Board of the SME Development Finance Corporation in March 2019. He was later named Chairperson of the Regional Development Corporation in January of last year.