The National Bank of Egypt (Khartoum) will support Egyptian and Sudanese businessmen in establishing projects in both countries, said Saber Mohamed Hassan, the chairman of the bank. On the Sidelines of inaugurating the bank, Hassan said the bank's capital is US$ 50 million supported by two funds worth US$ 300 million. NBE Khartoum recruits a number of Egyptian and Sudanese workers and 90% of which is Sudanese. Hassan added that NBE used to perform the role of the central bank before founding of the Central Bank of Sudan in 1960. Launching an Egyptian bank in Sudan reveals Egypt's plan to invest in the country in the upcoming period. The bank also aims at developing the border trade between Egypt and Sudan through helping the Egyptian investors residing in Sudan in supporting their existing investments by providing a favorable climate for the investment process, he pointed. The bank hopes to play a prominent role in the projects of Arab food security and urban industrialization. A high-level Egyptian delegation led by the governor of the Central Bank of Egypt (NBE) Farouk El-Okdah, the chairman of NBE Tarek Amer and the deputy chairman of NBE Hesham Okasha as well as a number of the Egyptian and Sudanese representatives have attended the inauguration of NBE Khartoum today.
