BANKING

17 Aug 2016

EFG-Hermes says AUMs fell to $2 billion in Q2

Egyptian investment bank, EFG-Hermes reported a 13.7 percent fall y-o-y in its assets under management (AUM) during the second quarter of the year, its chief executive announced Monday.

Karim Awad, CEO of EFG Hermes Holding, said the group's total AUMs had reached $2 billion by the end of second quarter of 2016.

EFG's total assets under management...

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16 Aug 2016

Commercial Bank of Qatar Chooses 01 Systems’ Biometric Finger Vein Solution for Card-Less ATM Authentication

01 Systems, the regional leader in banking software solutions announced today that Commercial Bank of Qatar, is the first bank in the"......

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16 Aug 2016

New Round of Funding to Fuel Continued Innovation and Growth at Baswood

Baswood Corporation, a privately held company leading innovation in sustainable wastewater treatment solutions, announced a new round of funding led by Inherent"......

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15 Aug 2016

Banks continue to curtail US dollar use overseas

Banks operating in the Egyptian market have taken more steps to curtail the use of US dollars abroad, in an attempt to decrease the foreign currency demand, given the shortage Egypt has been undergoing lately.


"...

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15 Aug 2016

Metropolitan Egypt negotiates with Egyptian Gulf Bank, Banque Misr to provide financing for Enmaa projects

Metropolitan Consulting Egypt is negotiating with the Egyptian Gulf Bank and Banque Misr to finance Enmaa for Development & Real Estate Investment to implement a number of projects, according to company head Khaled Nagaty.


"...

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14 Aug 2016

Egypt’s steady adoption of IMF programme would provide upside risk: Merrill Lynch

Egypt’s steady adoption of supportive macro policies as part of the recently announced International Monetary Fund (IMF) programme would provide an upside risk, according to a Bank of America Merrill Lynch report on 11 August.

An"...

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13 Aug 2016

News Analysis: Egypt toughens grip on currency to revive ailing economy

CAIRO, Aug. 12 (Xinhua) -- A recent call by Egypt's parliament speaker for drafting a law to permanently close money exchange bureaus to resolve distortions in the exchange rate system might be harmful to the already staggering economy, experts said.

Observers"......

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09 Aug 2016

Egypt proposed reform program to IMF

Cairo • Three Egyptian dailies said Monday that Cairo was proposing to IMF delegates an 18-month reform program in return for a $12 billion loan over three years to shore up its economy, but that differences remained between the two sides on how to proceed.

The"...

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07 Aug 2016

Kuwait Finance House shows interest in buying United Bank of Egypt: sources

Kuwait Finance House is interested in bidding for Egyptian central bank’s share in the United Bank, senior banking sources familiar with the matter told Amwal Al Ghad on Saturday.


The"...

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07 Aug 2016

Banque du Caire to remain under state control after increasing its capital by 20% on EGX: chairperson

The government will not lose control of Banque du Caire after increasing its capital by 20% by offering more shares of the bank on the Egyptian Exchange (EGX), said the bank’s CEO and Chairperson Mounir El Zahid.

The Central Bank of Egypt (CBE) had announced earlier this year"...

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