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AI + Innovation (MENA) 
Infrastructure 
Wafa Assurance submits MTO to acquire Delta Ins.
Wafa Assurance plans to delist Delta Ins. from the EGX following the acquisition
Societe General becomes first bank to launch USD-backed stablecoin
The USD CoinVertible will be tradable from July
Net foreign assets fall in April for the first time in four months
A rise in banking sector liabilities weighed on the net foreign assets position despite growing foreign assets
Beltone Leasing and Factoring sets up shop in SCZone. PLUS: EgyFert, Redcon Properties, Omar Effendi
Beltone’s arm will be the first NBFI to operate in the zone
China could soon have some global banking giants of its own to match Wall Street
Chinese President Xi Jinping called for efforts to help create “a few top-ranked investment banks and investment entities”
Banque Misr, NBE trim interest rates on CDs
PLUS- LC Wakiki’s local agent Tema is planning to add 45 new stores to its branch network in Egypt
Canada’s Borna plans to set up USD 40 mn factory for decarbonization tech
PLUS- Banque Misr and the National Bank of Egypt could soon cut interest rates on CDs
NBE, AAIB, Banque Misr receive approval from CBE to expand regionally
The banks are set to expand in countries like Saudi Arabia, Kuwait, the UAE, Qatar, and Jordan
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