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Foreign investors seeking exposure to Egypt could use ETFs or ADRs
Foreign investors seeking exposure to the Egyptian market could invest in “ETFs that offer diversification through investment in a single…
Banking + Finance
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WBG Financial Inclusion Initiative to fund regional center for digital financial inclusion in Cairo
The World Bank Group’s Financial Inclusion Global Initiative is funding the establishment of an regional center for digital financial inclusion…
Ibtikar for Investment Finance applies for financial services license
SME finance and leasing outfit Ibtikar for Investment Finance applied for a license to launch micro-finance operations, MM Group chairman…
HSBC removes all limits on foreign purchases using debit cards
HSBC Egypt announced removing all caps on foreign currency purchases abroad using debit cards as of 3 August. The bank…
NI Capital establishes Tamweely for Microfinance
State-owned investment bank NI Capital has launched a EGP 50 mn micro-financing arm called Tamweely, the bank said in an…
EGX cancels trades on Egypt Gas for fifth consecutive trading session
The EGX decided to cancel trades on Egypt Gas for the fifth consecutive session on Sunday on fears of possible…
Arab Contractors inks USD 200 mn credit facility agreement with Afrexim Bank
Arab Contractors’ Chairman Mohsen Salah inked a USD 200 mn credit facility agreement with African Export Import Bank (Afreximbank) on…
Damietta Furniture City Company in talks with CIB and QNB for EGP 800 mn loan
Damietta Furniture City Company — which operates the Damietta Furniture City complex — is in negotiations with CIB and QNB…
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