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EFG Hermes’ valU short-listed for Seamless award
EFG Hermes’ fintech solutions arm valU has been short-listed for the Seamless Awards most innovative fintech company for the year.…
Banking
FRA publishes consumer protection guidebook for its industries
The Financial Regulatory Authority (FRA) has put out a consumer protection guidebook (pdf) for capital markets, insurance and other non-banking…
Dice explores options for EGP 100 mn loan
Dice Sport and Casual Wear is exploring the possibility of an EGP 100 mn medium-term loan from CIB to partially…
Suez Canal Authority denies FinMin to pay off USD 600 mn in debt
The Suez Canal Authority denied it has reached an agreement with the Finance Ministry to pay off USD 600 mn…
Sawiris looks to acquire license for SME-focused bank in Egypt
Hope springs eternal: Naguib Sawiris would like to set up an SME-focused financial institution once the Central Bank of Egypt…
New Banking Act will not impose term limits on banks’ managing directors
LEGISLATION WATCH- There are no term limits for bank managing directors in the draft of the amended Banking Act now…
Tamweely looks to grow to 38 branches in Egypt by 2019-end
State-owned NI Capital’s microfinance arm Tamweely is targeting growing its number of branches to 38 across 11 governorates by the…
Al Marasem agrees Sharia-compliant credit facilities worth EGP 1.6 bn for Fifth Square residential project
Al Marasem Development signed contracts for Sharia-compliant revolving credit facilities worth EGP 1.6 bn with a consortium of six banks…
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