Another regional double taxation agreement in the works: Egypt and Oman will this month sign an agreement in Cairo to eliminate double taxation, Finance Minister Mohamed Maait agreed with his Omani counterpart Sultan bin Salim Al Habsi on Friday, according to the Finance Ministry. This came on the sidelines of the Islamic Development Bank Group annual meetings in Jeddah over the weekend. The news comes days after cabinet greenlit a similar agreement signed with Qatar in February.

ALSO ON THE SIDELINES OF THE ISDB MEETING:

  • Maait held talks with Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation;
  • Planning Minister Hala El Said met the head of the ISDB’s ins. arm, Oussama Kaissi, in a meeting that touched on the bank increasing its support for Egyptian exporters;
  • Maait met with Emirati Financial Affairs Minister Mohamed Bin Hadi Al Hussaini to talk FDI and fiscal policy;
  • He also joined Malaysia Deputy Finance Minister Ahmad Maslan and discussed establishing a free-trade agreement between the two countries;

GAFI boss in the UAE: General Authority for Freezones and Investment (GAFI) head Hossam Heiba met up with a number of Emirati companies and agencies — including Dubai FDI, Fujairah Freezone, and Abu Dhabi Capital Group — on the sidelines of the Annual Investment Forum in Dubai, GAFI said in a statement yesterday. Discussions focused on the companies’ plans to increase their involvement in the Egyptian economy.

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