Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    SCZONE signs $52.6m textile industry deals during China investment tour    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



EALB considers assets management company for its hotels, resorts: chairperson
Global group, private institutions in Egypt will participate in company, start managing Long Beach Hotel in Hurghada, says Kamal
Hossam Mounir Published in Daily News Egypt on 24 - 02 - 2018

The Egyptian Arab Land Bank (EALB) is studying the establishment of a specialised company to manage the hotel assets and tourist resorts it owns, according to EALB Chairperson Amr Kamal.

Kamal told Daily News Egypt that a global group specialised in this field, based in Germany, as well as private institutions in Egypt, will contribute to the company, pointing out that the company is scheduled to start with the management of Long Beach Hotel owned by the bank in Hurghada, which has 1,000 rooms.
In another regard, Kamal said that the bank is negotiating with Sanad Foundation to obtain special funding for financing microprojects. Another special fund for financing these projects is also being considered, stressing that the bank pays particular attention to this economic sector.
The bank has also signed an agreement with I-Score to record the movable assets owned by the bank, while it is also considering signing another agreement with the same company with regard to clients' credit scores.
The new board of directors of the Egyptian Arab Land Bank, headed by Amr Kamal, assumed responsibility for the bank at the beginning of October 2017.
According to Kamal, the bank's new management aims to close the provision gap completely by the end of the current fiscal year, the end of June 2018, without any financial support from the Central Bank of Egypt (CBE), noting that the bank's first general assembly since 2010 is set to be held in March 2018.
In addition, Kamal said that the bank is preparing to offer a range of new retail banking products and personal finance, pointing out that these products include personal loans, a club membership financing programme, tuition programme for school and university education, and a funding programme for post-grad studies.
Kamal explained that these programmes will be marketed to employees of government agencies, the business sector, multinational companies, and shareholding companies wishing to transfer their employees' salaries or premium credit to the bank.

Clic here to read the story from its source.