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IFC promotes cashless transactions, aims to boost financial inclusion in Egypt
The IFC discussed with banking sector representatives from Egypt “how banks can make use of new technologies that promote cashless…
Banking + Finance
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Foreign currency trading on interbank system climbs to USD 14.5 bn, Amer says
Foreign currency trading on the interbank system domestically climbed to USD 14.5 bn since the EGP float in November 2016,…
FRA approves Samcrete's capital increase
The Financial Regulatory Authority (FRA) approved yesterday Samcrete’s request to increase its issued capital to EGP 230.46 mn from EGP…
ODE board proposes share split to widen shareholder base
Orascom Development Egypt’s (ODE) board of directors proposed implementing a share split yesterday that would change the par value of…
Banque Misr to retain 2016-17 earnings to support capital
Banque Misr is planning on retaining 2016-17 earnings to support the bank’s capital, Vice Chairman Akef El Maghraby tells Al…
Global Lease looking to borrow EGP 1 bn
Global Lease is in talks with a number of unnamed banks to secure EGP 1 bn in financing for its…
Credit Agricole, Faisal allocate EGP 500 mn and EGP 200 mn to CBE’s mortgage finance initiative
The central bank’s Mortgage Finance Fund has signed agreements with Credit Agricole and Faisal Islamic Bank that will see them…
NBE to manage Zohr foreign currency revenues
National Bank of Egypt (NBE) will be managing the foreign currency revenues generated from the Zohr gas field, Al Mal…
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