MOVES- Prime minister to chair SME Development Authority: Prime Minister Moustafa Madbouly named himself as the chairman of the SME Development Authority for four years as part of a newly constituted board, the cabinet said in a statement. The new board includes the ministers of finance, investment and planning among others.

On a related note: Madbouly issued a decree that allows SME financing associations and NGOs with a loan portfolio of more than EGP 50 mn to open accounts at any number of banks without a limit, Al Mal reports. Existing law states that these associations can open accounts at a maximum of five banks, according to the newspaper.

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