BANKING

02 Jul 2014

Bank account for Egypt will benefit youth: Presidency

Bank account used to receive donations to help Egypt's economy will be used for the country's youth, says presidential spokesman.

A bank account set up to better Egypt will be used to launch new projects for the country's youth, says the presidential spokesman.

Speaking at"...

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29 Jun 2014

HSBC sees huge opportunity for credit card growth: Bank’s head of retail and wealth management

With a growing reliance on e-payments worldwide, Egypt still struggles with a low credit card penetration. The Daily News Egypt sat down with Head of Retail Banking and Wealth Management at HSBC Ranjan Sen, to discuss the future of credit card usage in Egypt. Also on the table was the reason"...

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29 Jun 2014

Hazem Hegazy, head of retail banking speaks to Daily News Egypt

The National Bank of Egypt (NBE), the largest government bank in Egypt, is planning to reduce cash transactions in the market and replace them with credit cards in order to meet the needs of citizens of diverse age groups and consumer cultures. In an interview with Daily News Egypt, Hegazy"...

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29 Jun 2014

Credit Cards explained

The level of credit card penetration in Egypt remains low despite its worldwide presence. Public fears of becoming indebted, misinformation on the nature, benefits and characteristics of the credit cards as well as the limited availability of point of sales machines and low acceptability"...

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28 Jun 2014

Egypt: IDB to Lend Egypt Egp 2.75 Billion for South Helwan Power Plant

Egypt and the Islamic Development Bank (IDB) signed a loan agreement whereby the bank will offer EGP 2.75 billion to finance the 1950-megawatts South Helwan power plant, Minister of Electricity and Energy Mohamed Shaker said on Thursday 26/06/2014.


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28 Jun 2014

Fitch Affirms Egypt at 'B-'; Outlook Stable

Fitch Ratings has affirmed Egypt's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'B-'. The Outlooks are Stable. The issue ratings on Egypt's senior unsecured foreign and local currency bonds have also been affirmed at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-term"...

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26 Jun 2014

‘Win Everyday’ this Ramadan with Xpress Money

%49-day multi-country consumer incentive program devised specially for the Holy Month of Ramadan%

% Customers can win daily prizes of GBP 160 and a mega prize of GBP 3000 on remittances %

...

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25 Jun 2014

SAR2.8bn IDB loan cleared for Egypt

The Islamic Development Bank (IDB) on Tuesday announced loans worth $752 million (SR2.82 billion) to finance development projects in Egypt.

The IDB marked its 40th anniversary with the participation of Crown Prince Salman, deputy premier and minister of defense, on the same day.

On arrival at the venue, Crown Prince Salman was greeted by 12 children...

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25 Jun 2014

Central Bank of Egypt establishes ‘Long Live Egypt Fund’ to support economy

Governor of the Central Bank Hisham Ramez announced Monday the opening of a new bank account under the number 037037, a reference to the date on which President Abdel Fattah Al-Sisi declared the ouster of former president Mohamed Morsi.


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24 Jun 2014

World Islamic Economic Forum to Celebrate 10th Anniversary in Dubai with Focus on Innovative Partnerships

Dubai Chamber and the WIEF Foundation have announced that the 10th World Islamic Economic Forum will be organised in Dubai from October 28 to 30, 2014, under the theme, ‘Innovative Partnerships for Economic Growth’ to reflect the"...

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