In a statement released after the close of trade on Thursday, Egypt's public prosecutor ordered that Citadel Chairman Ahmed Heikal be banned from travel pending a probe into corruption allegations.
Egypt's index lost 3.4 percent, also weighed by EFG-Hermes, after Sherif Cararah, a board member and head of brokerage, resigned. The bank fell 4.5 percent.
Kuwait's benchmark fell 0.7 percent to a week low and Zain dropped 3.3 percent, after Nasser Al-Kharafi, 67, the billionaire chairman of Kuwait's Kharafi Group, died in Cairo from a heart attack.
The Kharafi Group was a major shareholder in Kuwaiti telecoms carrier Zain and was also the main proponent of a failed $12 billion stake sale in the firm to UAE's Etisalat.
UAE markets ended on fresh highs as investor confidence build in country's bourses on hopes for an MSCI index inclusion and banks' earnings.
Dubai Financial Market jumped 5.2 percent and Emaar Properties gained 2.1 percent, a near three-month high.
Dubai Islamic Bank added 1.4 percent. “One of the interesting things in banking sector is the (price) levels we are seeing, benefiting from the turmoil around the region,” said Hashem Montasser, managing partner at Frontlane Capital, a Dubai-based asset management firm.
An MSCI decision will be made in June on whether UAE and Qatar will obtain emerging market status and be included in the index, increasing access to foreign funds.
The benchmarkended 1.6 percent higher, its highest close since Jan 10.
“There is a lot of activity on first quarter forecasts, especially bluechips that were lagging, which is indication of high retail investor interest,” said Marwan Shurrab, vice-president and chief trader at Gulfmena Alternative Investments.
Abu Dhabi's index rose 0.7 percent to a nine-week high, with heavyweights rallying.
National Bank of Abu Dhabi and First Gulf Bank gained 1.3 and 1.4 percent respectively.
Saudi Arabia's TASI index ended on a month low as investors booked profits from petrochemicals, with Yanbu National Petrochemical Company weighing.
The petrochemical index lost 1.8 percent, as Yansab shed 5 percent. SABIC lost 2.3 percent ahead of first-quarter earnings. Both stocks fell on rumors spurred by SABIC result's leakage, analysts said.
The benchmark ended 1.1 percent lower, its lowest close since March 29.
Oman's index hit a five-week high as banks lifted the index on optimism about strong earnings growth.
Bank Dhofar gained 1.2 percent after Chief Executive Kris Babicci resigned.
The benchmark gained 0.2 percent to its highest close since March 13.
“We continue to believe that banks will benefit from strong government spending in long run,” said Osama Ibrahim Al Qinna, head of brokerage at Oman Arab Bank.
Meanwhile, Qatar's benchmark fell 0.6 percent to 8,729 points while Bahrain's index shed 0.6 percent to 1,404 points.
