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New Urban Communities Authority prepares EGP 10 bn securitization process
The New Urban Communities Authority (NUCA) will issue another EGP 10 bn in securitized bonds before the end of 2019,…
Banking + Finance
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CIB partners with Transfast to allow remittance transfers from Egyptian expats
CIB has partnered with money transfer company Transfast to allow Egyptian expats to send remittances to bank accounts in Egypt,…
Gov’t begins to roll out Meeza debit cards
The Finance Ministry began distributing almost 5 mn “Meeza” debit cards to public sector workers at the beginning of September…
AUB agrees to loan United Real Estate subsidiary EGP 250 mn
An Egypt-based subsidiary of Kuwait’s United Real Estate Company signed on Monday a five-year, EGP 250 mn loan with Ahli…
Egyptian Stock Exchange removes GTH shares
The EGX has taken Global Telecom Holding’s shares off the exchange after the company completed all voluntary delisting procedures, the…
Egypt’s Fawry to move into micro insurance brokerage early 2020
Fawry is planning to venture into micro insurance brokerage by early 2020, CEO Mohamed Okasha told the press, without providing…
Food producers move towards e-payments amid push for financial inclusion
Food producers have begun collecting their payments from retailers electronically through apps such as Fawry, Farm Frites General Manager Ahmed…
El Sewedy Capital plans expansion of non-banking financial services
El Sewedy Capital is looking to add financial leasing and microfinancing to its non-banking financial services, and establish an insurance…
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