The Principal Bank for Development and Agricultural Credit targets to expand in Sharia-compliant retail banking products by the beginning of 2013 through launching a number of products such as durable goods financing programs.
The bank will deal (...)
Sources at the Principal Bank for Development and Agricultural Credit said the current political turmoil delayed the meeting that is slated to be held this week with a Bangladeshi delegation to discuss possible methods for mutual cooperation and (...)
The Principal Bank for Development and Agricultural Credit targets to increase the value of Islamic deposits to EGP 1.5 billion by the end of FY 2012/2013, compared to EGP one billion at the end of last November.
The bank plans to increase the value (...)
The Principal Bank for Development and Agricultural Credit's Islamic finances for micro agricultural projects reached EGP 5 million offered to 500 customers by giving EGP 10,000 for each customer in a month.
The bank targets to inject EGP 500 (...)
The Principal Bank for Development and Agricultural Credit targets to inject Islamic finances worth EGP 500 million to raise the sharia-compliant finance portfolio to EGP one billion by the end of FY 2012/2013.
Such finances will be used to finance (...)
The Principal Bank for Development and Agricultural Credit is in talks with the Ministry of Agriculture to buy agricultural lands with areas ranging from 5,000 feddans (5,190 acres) to 10,000 feddans (10,380 acres) to set up agricultural projects (...)
Mahmoud El Sakka, chairman of the Egyptian Credit & Risk Association (ECRA), called for maintaining the rules and regulations stable, keeping banking sector independent and studying the economic decisions adequately before issuing them as the (...)
Abdel Ghaffar Shokr, deputy chairman of the National Council for Human Rights (NCHR), affirmed the importance of implementing mechanisms of social market economy which will achieve social justice by ensuring the safety of workers, maximizing their (...)
Abdel Moaty Lotfy, deputy chairman of the Federation of Economic Development Associations, said the banking sector solely focuses on achieving profits and does not do its duty in achieving development. Then, he called on banks to finance (...)
Ahli United Bank Egypt's retail loan portfolio reached EGP 80 million in the first 10 months of 2012. Sources said the bank plans to inject EGP 20 million to the portfolio to reach EGP 100 million before the end of 2012.
The personal loans accounted (...)
The Commercial International Bank (CIB) is in talks with the Alexandria Business Association (ABA) to receive a loan worth EGP 20 million to finance micro-enterprises.
ABA conducts negotiations with a number of other banks which deal with the Social (...)
The National Bank of Egypt (NBE), the Egyptian Arab Land Bank (EALB) and the Arab Banking Corporation (ABC) plan to settle debts of EGP 115 million owed by a customer working in the medical sector. A source at NBE said 60% of the debt is owed to (...)
United Bank considers contributing with EGP 200 million to the loans being arranged in the current period for Egyptian Steel Group and Egyptian Company for Ethylene, said Mohamed Ashmawy, chairman of the bank.
On the sidelines of the Regional (...)
Blom Bank Egypt studies contributing between EGP 100-150 million to the US$ 1.250 million loan being arranged for the Egyptian Company for Ethylene, sources said.
On the sidelines of the Regional Islamic Finance Forum held by the Central bank of (...)
The three arrangers of the US$ 1.07 billion loan for the Egyptian Steel Group approved to offer a bridge loan ranges between EGP 250-300 million to the Group, before receiving final approvals from contributors to the loan.
Sources at Banque Misr (...)
The exit of foreign banks from the Egyptian market will increase the chances of Egyptian banks to expand in the market, said Hisham Ramez, deputy chairman and managing director of Commercial International Bank (CIB).
CIB has no intention at all to (...)
The Commercial International Bank (CIB) signed today its first contract with the Social Fund for Development (SFD) to finance small and medium poultry enterprises (SMEs).
The project will support poultry sector through financing the establishment of (...)
The Social Fund for Development (SFD) will sign tonight finance contracts worth US$ 45 million with the European Investment Bank to finance small and medium enterprises (SMEs).
Ghada Wali, secretary general of SFD, said in an interview Amwal Al Ghad (...)
Banque Misr targets to launch two new products in the current fiscal year which are sharia-compliant mortgage and Hajj finance.
The bank is currently doing studies to determine the value of the portfolio of the Murabaha Mortgage product, said Ahmed (...)