BANKING

01 Dec 2016

Egypt central bank lets banks allocate more dollars to clients: bankers

Egypt’s central bank has told banks they may allocate dollars to a wider range of clients, according to bankers, potentially making hard currency available to foreign companies seeking to repatriate earnings after months of delays.

The"...

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30 Nov 2016

Beltone says braces for four new Egypt IPOs in 2017

Egypt’s investment bank Beltone Financial is planning to make four new initial public offerings in the local market within the first four months of 2017, head of brokerage announced Tuesday.

Ahmed Salem told"...

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29 Nov 2016

National Bank of Egypt to secure 90 mln pounds for fertiliser expansion scheme

Egypt’s largest lender, the state-run National Bank of Egypt is offering to finance planned expansions for Cairo-based fertiliser major, the Egyptian Financial and Industrial Company (EFIC).

Ali Al-Sayad, Chairman"...

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28 Nov 2016

Union of Arab Banks concludes 21st session of annual Banking Conference

Union of Arab Banks concluded the 21st session of the annual Arab Banking Conference titled "Lobbying for Better Arab - International Banking Cooperation", on Friday November 25, 2016 at Phoenicia Hotel, Beirut, in the presence of His Excellency"...

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27 Nov 2016

National Bank of Egypt relaxes limits on card usage abroad: paper

Egypt’s largest bank, the state-owned National Bank of Egypt (NBE) relaxed on Saturday its bank card purchase limits abroad to a maximum of 100,000 Egyptian pounds per month for the highest credit category, up from 65,000 pounds, Ahram Daily reported.

“The"...

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27 Nov 2016

Egypt's biggest public bank relaxes limits on card usage abroad

The National Bank of Egypt (NBE), the country’s largest public lender, has relaxed its bank card purchase limits abroad to a maximum of EGP 100,000 per month for the highest credit category, up from EGP 65,000, Ahram Daily reported.

“The move comes in the wake of the daring"...

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24 Nov 2016

Egypt ranks 44 in HSBC Expat Explorer report, Singapore secures top spot for 2nd year

Egypt ranked 44 in HSBC’s Expat Explorer report, while Singapore still ranks as the best destination for expats for the second year running. The Expat Explorer league table ranks each country or territory using a score that summarises expats’ overall views of that destination. The Expat Explorer overall score is the average of the Economics, Experience,...

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22 Nov 2016

Raya’s Aman for electronic payments launches in Egypt

Raya Holding for Technology and Communications announced the effective launch of Aman for electronic payments (e-payments) all over Egypt, according to a press release issued on Tuesday by Raya. “Aman” is a subsidiary of Raya Holding for Financial Investments.

The"...

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22 Nov 2016

Banque du Caire certificates of deposit brought in $680.7 million

Egypt’s third biggest bank, state-owned Banque du Caire has received around 12 billion Egyptian pounds (around $680.7 million) from new certificates of deposit it started offering earlier this month, chairman Mounir El Zahid said Monday.

Following"...

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22 Nov 2016

Sisi transfers Agricultural Development Bank to CBE supervision

Egypt's President Abdel- Fattah El-Sisi has issued a presidential decree to transfer oversight of the Agricultural Development and Credit Bank from the Ministry of Agriculture to the Central Bank of Egypt (CBE), renaming it the Egyptian Agricultural"...

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