The United Bank announced the launch of a new administrative unit named department of custodians after securing approvals from the Central Bank of Egypt and the Egyptian Financial Supervisory Authority.
Such move came as part of the bank's efforts (...)
The National Bank of Egypt (NBE) is negotiating with the Social Fund for Development (SFD) over signing the first franchise finance contract worth EGP 60 million in the next month.
The value of the finance was EGP 50 million, but NBE requested (...)
Banque Misr has allocated EGP 12 million to establish a school for children to be named after the bank. The school is one of the major projects of the Grand Egyptian Museum (GEM) – Phase III. The sum of money the bank funded shall paid off through (...)
Arab African International Bank (AAIB) disbursed 104,000 yellow remittances worth 400 million out of EGP 470 million, said Amr Abdelal, head of branches at AAIB.
AAIB allocated 26 branches for the disbursement from its 50 branches spread across all (...)
The National Bank of Egypt (NBE), Banque Misr, Alex Bank and Arab African International Bank (AAIB) disbursed 517,000 yellow remittances worth EGP 1.941 billion by the end of Monday June 18th.
NBE disbursed 110,000 yellow remittances worth EGP 395 (...)
Arab African International Bank (AAIB) disbursed 102,000 yellow remittances worth 394 million in the third month of disbursing remittances, money owed by Iraq to Egyptian workers who left the country in the 1990s during the gulf war.
AAIB allocated (...)
The Central Bank of Egypt (CBE) attributed the retreat in general inflation rate by 0.24% last May, compared to a rise 0.98% in April to the decline in food prices such as chicken, fish and rice in addition to the fall in prices of gas pipes. (...)
In case of being approved by the Central Bank, National Bank of Egypt (NBE) will raise its capital to EGP 12 billion based on its human and material capabilities which will enable it to achieve high profits in the upcoming years, said Tarek (...)
Banque Du Caire is negotiating with Social Fund for Development (SFD) over a finance agreement worth EGP 200 million to finance service and industrial micro-enterprises.
Sources told Amwal Al Ghad that the agreement is expected to be signed by the (...)
Tarek Amer, president of FEB and NBE, said the verdict on the former president is one of the greatest achievements of Jan 25 revolution.
During the conference of SMEs, Amer referred to the necessity of considering the Egyptian youth who sacrificed (...)
Tarek Amer, chairman of Federation of Egyptian Banks, said small and medium enterprises (SMEs) are a national security matter because of their major role in contributing in national income, increasing gross domestic product (GDP), creating job (...)
The return on Egyptian dollar certificates of deposit, offered by seven Egyptian banks for Egyptians working in Arab countries, reached US$ 40 million at the end of last week, said Tarek Amer, chairman of National Bank of Egypt (NBE). Sources said (...)
Mohammed Refaat Al Houshy, managing director of the Egyptian Credit Bureau I-Score, called on the formation of a SME bank to lend, monitor and supervise small and medium enterprises (SMEs) together with a loan guarantee company.
At the SMEs (...)
The National Bank of Egypt (NBE) has signed three finance agreements worth EGP 450 million with Social Fund for Development (SFD) to finance SMEs.
Sources said NBE signed a contract worth EGP 100 million to finance projects of physicians and (...)
Banque Misr has opened a new branch in Smouha Alexandria, increasing its branches to 476 branches, as part of the Bank's expansion plan that targets opening five more branches and restructuring some of the existing branches.
The new branch has an (...)
Banque Misr disbursed 83,106 yellow remittances worth EGP 250,698,289 in the third month of disbursing remittances; money owed By Iraq to Egyptians who left the country in the 1990s during the Arab Gulf war.
Banque Misr allocated 120 branches spread (...)
Mohamed Habib, Former Deputy General Guide of Muslim Brotherhood, revealed that the MB had negotiated with the former regime, starting from 2005, to divide the parliamentary seats among MB's nominees in the elections.
He explained that the (...)
Central Bank of Egypt (CBE) said foreign reserves rose by US$302 million in May, their second successive monthly increase after having fallen every month since the uprising that ousted Hosni Mubarak in early 2011.
Foreign reserves climbed to (...)
The National Bank of Egypt (NBE) has disbursed 104,000 yellow remittances worth EGP 382 million in the second month of disbursing remittances, owed By Iraq to Egyptians who left the country in the 1990s during the Arab Gulf war, said Hazem Hegazy, (...)
United Bank will sign an Islamic finance contract with value of EGP 75 million with Social Fund for Development (SFD) next week, as part of SFD's efforts towards offering Islamic finance to small and medium enterprises (SMEs).
Essam El Korashy, head (...)
Dr. Hani Sarie Eldin, member of the Free Egyptians Party's political office, emphasized on the fact that the coming period will face multiple difficulties amid having such challenges mainly in restoring the security and economic stability.
“The (...)
Gamal Muhram, head of American Chamber, said since the start of the presidential elections the American side keened to be impartial.
In the talk show “Al Shaab Yoreed" (People Want), Muhram added that the American ambassador during the last period (...)
Zayad al-Ellamey, Member of Parliament, sees that not choosing a consensus candidate among the youth of 25 Jan revolution is one of the current period's mistakes which led to these final results of elections.
He added that, in the talk show “Al (...)
Fouad Abou Steit, economics professor, said the capacity of Egypt's economy doesn't bear EGP 200 billion during few years as it was mentioned in Muslim Brotherhood's plan of achieving economic reform for Egypt.
He referred that the MB sat the (...)
Farid Zahran, a leading member of the Egyptian Social Democratic Party (ESDP), has considered that voting for Senior Commander Ahmed Shafiq is a kind of a“punitive or retaliatory action" against the Muslim Brotherhood (MB) due to not keeping their (...)