Around150 million Egyptian pounds ($9.4 million) have been raised into Egypt's newest joint venture Misr Life Takaful Insurance Company. State-run Misr Insurance Holding (MIHC) signed on Tuesday the joint venture agreement with two of the country's biggest public lenders; the National Bank of Egypt (NBE) and Banque Misr. MIHC has a 12 percent stake in the venture, with its subsidiaries Misr Insurance and Misr Life Insurance are both holding a 20 percent stake in the JV respectively. For the remaining 48 percent stake, the National Bank of Egypt, Banque Misr, and Misr Capital Investments are holding a 24 percent, 14 percent, and 10 percent, respectively. Shareholders' name Amount of Stake Misr Insurance Holding Company 12 percent Misr Insurance 20 percent Misr Life Insurance 20 percent National Bank of Egypt (NBE) 24 percent Banque Misr 14 percent Misr Capital Investments 10 percent
