The Central Bank of Egypt has issued a ruling limiting the tenure of executives at Egyptian banks to nine years (on a consecutive or cumulative basis), the Daily News of Egypt reports. CBE governor Tarek Amer said the order was designed to create leadership opportunities in the country's banks. The decision has drawn criticism from commentators who said the CBE has no authority to make the ruling, which is, in any case, a violation of shareholder rights. Jack Flader, a key figure in the collapse of the Trio Capital funds in 2009, walked free from a UK court last week, acquitted of being a key figure in laundering proceeds of an "investment boiler room". Fairfax Media surveyed the case in a feature at the weekend.