BANKING

12 Feb 2015

CBE nods tourism ministry request for currency exchange with Russia: Official

The Central Bank of Egypt (CBE) will approve the Ministry of Tourism’s request for a currency exchange system with Russian companies, according to a Tourism Ministry official.


The"...

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11 Feb 2015

Egyptian bank CEO reports spike in dollar inflows after new deposit limits


Egypt’s ABC bank saw a week’s worth of dollar inflows in the single day after the Central Bank of Egypt introduced new limits on dollar cash deposits last week, says CEO Akram Al-Tenawy.

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10 Feb 2015

EBRD provides ADES with $28m loan

The European Bank for Reconstruction and Development (EBRD) has provided Egyptian oil service company Advanced Energy Systems SAE (ADES) with a $28m loan.


The loan will support “a company which applies the best environmental, health and safety (EHS) standards in the local oil and gas industry”.

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09 Feb 2015

MENA Fund Manager recognizes NBK Egypt’s fund ‘Al-Mizan’ – ‘The Best Performing Fund’ in its category

NBK Capital is pleased to announce that its National Bank of Kuwait - Egypt Balanced Fund (Al-Mizan), managed by NBK Capital Asset Management Egypt, has been recognized by the MENA Fund Manager Magazine as “The Best Performing Fund” in its Balanced Class in the region. This award"...

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08 Feb 2015

28.5% of Egyptian banks provide mobile banking

With the increase of smartphones, customers can use new programmes, including “Mobile Banking”, which allows customers more choice in transferring funds and check their bank accounts.


A"...

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07 Feb 2015

MasterCard to digitalize Egypt Post services

MasterCard will help Egypt Post to digitalize its customers’ database and to offer electronic services, as part of bringing latest payment technology to Cairo, according to a Thursday MasterCard statement.


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04 Feb 2015

Watch: Emirates NBD bank branch torched in Egypt

The building is located on the Al Hamra Street in Al Giza in Cairo, Egypt. According to reports the incident took place on February 2, 2015.


Police cars rushed to the spot and brought the fire under control.


"......

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02 Feb 2015

IDB unit extends Islamic reinsurance for Apache's Egypt projects

A unit of the Jeddah-based Islamic Development Bank, a multilateral lending institution, has provided $80 million worth of sharia-compliant reinsurance to cover political risk for oil and gas projects in ...

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01 Feb 2015

Egyptian banks expanding tax, customs e-payment service


In late 2007, former Governor of the Central Bank of Egypt (CBE) Farouk Al-Okda met the bank heads to establish e-payments and e-collection of government taxes and customs centres. During the meeting, the"...

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01 Feb 2015

Al Baraka Egypt net income rises 36pc

Al Baraka Bank Egypt, a subsidiary banking unit of Bahrain-based Al Baraka Banking Group (ABG) and its investment arm in Egypt, announced that net income jumped by 36.1 per cent in 2014 compared to the previous year.

Total assets increased by 22.1 per cent, financing portfolio by 20.9 per cent, customer deposits by 21.2 per cent at the end of December...

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