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Banque Misr’s MDI receives approval for digital banking license from CBE + CBE issues new ownership regulations
Those acquiring more than a 10% stake in a bank would have to request approval from the CBE 60 days…
MDI gets initial approval to launch Egypt’s first digital bank
Good afternoon, folks, and happy Thursday. Don’t forget to switch off your alarm clocks as the public and private sectors…
Xinxing has another USD 250 mn worth of investments in the pipeline for Egypt. PLUS: Locally made e-bikes, MM Group Saudi expansion, Madinet Masr launches Sarai project, CIB eyes green on-lending funds, Farahy looks to GCC investors
The Chinese state-owned company just broke ground on a USD 146 mn ductile pipe factory
Egypt’s net foreign asset deficit narrows in March following rise in FX reserves
The CBE’s net foreign asset deficit narrowed to its lowest levels in over two years
US International Development Finance Corporation mulls financing Actis’ Gabal El Zeit acquisition. PLUS: Saudi SMEs to expand in Egypt, The HUB plan new frozen food factory, UAE’s Horizon Egypt eyes North Coast project
This comes only a few weeks after the European Bank for Reconstruction said it was reviewing a proposed loan for…
HSBC’s revenue inches up in Q1 2024 + CEO Noel Quinn resigns
CEO Noel Quinn is stepping down from his post after nearly five years
FX to be made available to all importers starting May following planned central bank liquidity injection
Banks will issue USD letters of credit to importers at the start of June, a source told us
IFC’s Sustainable Banking and Finance Network upgrades Egypt’s sustainable finance rating
The SBFN attributed the upgrade to “collaboration among Egypt’s financial regulatory bodies” to promote sustainability
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