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Egypt’s iScore to expand into Africa, ME in the next three years
Egyptian creditworthiness bureau iScore is planning to expand its operations into Africa and the Middle East during the next three…
Banking
Al Baraka Bank Egypt expects new tax treatment to hit 2019 profits
Al Baraka Bank expects its 2019 profits to decline by 5-7% as a result of proposed amendments to the tax…
Egypt’s CBE extends its tourism rescue initiative until December 2019
The Central Bank of Egypt (CBE) has granted a one-year extension to its tourism rescue initiative for investors and businesses…
Egypt’s CIB sets up VC arm CVentures to invest in fintech startups
CIB launches corporate venture capital arm: Our friends at CIB have launched a captive venture capital arm, CVentures, to invest…
Gov’t denies reports suggesting bank accounts of tax cheats would be frozen
Gov’t says it has no plans to freeze the bank accounts of tax evaders: Cabinet said in a statement that…
Central Bank of Egypt could raise ceiling for mobile lending
The CBE is studying raising the credit ceiling for mobile nano-lending to EGP 1000-1500, up from EGP 500 currently, banking…
Egypt Aluminum in talks with banks for USD 600 mn financing for new product line
State-owned Egypt Aluminum is in talks with five local and international banks to finance a portion of its planned USD…
Pharos to launch Egypt microfinance company
Pharos to launch a microfinance venture in 1Q2019: Our friends at Pharos Holding will expand into microfinance in 1Q2019, co-CEO…
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