US Biogen agrees to acquire HI-Bio for $1.8b    Microsoft buys 1.6m carbon credits from central American project    EU to retain Russian frozen assets revenues even after lifting sanctions    EU watchdog seeks oversight of cross-border finance firms    Rents rise by 24%, East Cairo at forefront of demand: Savills Egypt    Egypt secures $38.8bn in development financing over four years    Body of Iranian President Raisi returns to Tehran amidst national mourning    Palestinian resistance movements fight back against Israeli occupation in Gaza    Egypt, Côte d'Ivoire discuss enhanced water cooperation at World Water Forum    President Al-Sisi reaffirms Egypt's dedication to peace in Gaza    Council of Arab Finance Ministers kickstart meetings in Cairo    Egypt to build 58 hospitals by '25    Asia-Pacific REITs face high climate risk, report shows    UK inflation eases, no June rate cut expected    Egyptian, Dutch Foreign Ministers raise alarm over humanitarian crisis in Gaza    "Aten Collection": BTC Launches its Latest Gold Collection Inspired by Ancient Egypt    Egypt's Health Minister monitors progress of national dialysis system automation project    Giza Pyramids host Egypt's leg of global 'One Run' half-marathon    Madinaty to host "Fly Over Madinaty" skydiving event    Nouran Gohar, Diego Elias win at CIB World Squash Championship    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    Swiss freeze on Russian assets dwindles to $6.36b in '23    Prime Minister Madbouly reviews cooperation with South Sudan    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



NBE Starts Offering Musharaka Finance For SMEs
Mohamed Hamdy Published in Amwal Al Ghad on 05 - 01 - 2013

The National Bank of Egypt (NBE) will begin offering Musharaka finance for small and medium enterprises (SMEs) starting from this month.
Sources said the bank allocated about EGP 200 million for the new finance scheme after signing Musharaka finance agreements with the Social Fund for Development (SFD).
The bank targets to sign three finance agreements worth EGP 192 million with SFD to finance SMEs in Q3 of FY 2012/2013, sources added.
The values of the three agreements are EGP 100 million, EGP 80 million and EGP 12 million, sources said. The total value of finance agreements signed by NBE and SFD exceeded EGP 5 billion and they were used to finance tourism, medical and industrial sectors.
NBE's portfolio of SME finance rose to EGP 8.6 billion at the end of November 2012. The bank plans to expand in financing unregistered SMEs which account for 90% of total number of SMEs.

Clic here to read the story from its source.