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Infrastructure 
NBE to explore commercial application of blockchain tech as part of R3 consortium
The National Bank of Egypt (NBE) has joined the R3 Blockchain Consortium, which aims “to explore commercial applications of blockchain…
Banking
Eight banks supposedly provide OCI with USD 476 mn loan
Eight banks are allegedly providing Orascom Construction Industries (OCI) with a USD 476 mn five-year syndicated loan, Al Shorouk reportsin…
Pioneers Holding planning a EGP 1.1 bn capital increase
Pioneers Holding is planning new investments and expanding on its existing portfolio through a EGP 1.1 bn capital increase, a…
FRA allows the establishment of charitable investment funds
The Financial Regulatory Authority (FRA) approved a directive allowing the establishment of charitable investment funds, whose profits would go towards…
ODE raises freefloat shares to 25%
Orascom Development Egypt has raised its percentage of freefloat shares on the EGX to 25%, according to a bourse statement…
Al Baraka Bank plans to set up new investment arm
Al Baraka Bank is planning to set up a new investment arm in Egypt sometime during 2H2018, CEO Ashraf El…
Bloomberg Terminal ranks NBE as Egypt’s top bank in 1Q2018, Africa’s best in syndicated loans
The National Bank of Egypt was rated the country’s top bank in 1Q2018 in a Bloomberg Terminal report picked up…
State-owned banks scrap high-yielding CDs, introduce new variable interest certificates
The country’s largest state-owned banks have decided to scrap their high-yielding certificates of deposits two weeks after the central bank…
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