Vice Chairman and Managing Director of Arab African International Bank (AAIB) Mohamed Barakat said the bank's board of directors is aiming to start providing the banking services with local currency within the first quarter of the next year after obtaining approvals for full control on the Central Bank of Egypt (CBE). In statements to Amwal Al Ghad on the sidelines of Union of Arab Banks' Conference 2014 -Sharm El Sheikh under the name of Prudential Regulatory Procedures and Sound Practices in Risk Management', Barakat added that the board is targeting to expand in launching banking branches in order to achieve geographical expansions to meet with the bank's plans so as to allure deposits with Egyptian pound and to launch new banking products along with expanding in granting loans with local currency. Moreover, he explained that the enhance of AAIB's revenues by the upcoming period comes at the top priorities of board to face the expenses of branches' expansion, stressing that the bank has strong solvency to keep up with the required expansions in the coming period.