{"id":548312,"date":"2022-08-03T04:00:11","date_gmt":"2022-08-03T04:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/banque-misr-to-open-representative-office-in-kenya\/"},"modified":"2022-08-03T04:00:11","modified_gmt":"2022-08-03T04:00:11","slug":"banque-misr-to-open-representative-office-in-kenya","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/banque-misr-to-open-representative-office-in-kenya\/","title":{"rendered":"Banque Misr to open representative office in Kenya"},"content":{"rendered":"

<\/a> Banque Misr is entering Kenya:<\/strong> Banque Misr is set to open a representative office in Kenya after receiving regulatory approval from the Central Bank of Kenya, according to a statement (pdf)<\/a> from the central bank yesterday. The move will play a \u201ccatalytic role in strengthening the long-standing trade relationship between Egypt and Kenya,\u201d the central bank said.<\/p>\n

It\u2019s not allowed to do actual banking, though:<\/strong> Representative offices are not allowed to provide banking services and can only act as marketing and liaison offices for their parent banks.<\/p>\n

It will be doing banking in Somalia:<\/strong> The decision by the Kenyan central bank comes a few weeks after Somalia handed the state-owned bank a banking license<\/a>, allowing it to become one of the first international banks to operate in the country.<\/p>\n

Banque Misr\u2019s international footprint:<\/strong> Banque Misr currently has branches in the UAE, France, Germany and Lebanon, and representative offices in Russia, China, Italy and Korea.<\/p>\n

Appetite for Africa: <\/strong>CIB, Egypt\u2019s largest private-sector bank, has a full bank license in Kenya<\/a> and has opened a rep office in Ethiopia<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banque Misr is entering Kenya: Banque Misr is set to open a representative office in Kenya after receiving regulatory approval from the Central Bank of Kenya, according to a statement (pdf) from the central bank yesterday. The move will play a \u201ccatalytic role in strengthening the long-standing trade relationship between Egypt and Kenya,\u201d the central […]<\/p>\n","protected":false},"author":1,"featured_media":548313,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,576,72,1876],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-banque-misr","tag-enterpriseam","tag-kenya","wpautop","entry"],"acf":{"mongo_id":"539c912a-af43-4062-b3e2-0aa3cbe02552","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/129.jpg","photo_position":"above","related_issue":[548302],"teaser":"","voice_url":""},"yoast_head":"\nBanque Misr to open representative office in Kenya - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/banque-misr-to-open-representative-office-in-kenya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banque Misr to open representative office in Kenya\" \/>\n<meta property=\"og:description\" content=\"Banque Misr is entering Kenya: Banque Misr is set to open a representative office in Kenya after receiving regulatory approval from the Central Bank of Kenya, according to a statement (pdf) from the central bank yesterday. 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The bank has already received regulatory approval from the Somali Central Bank to establish a representative office in Mogadishu, and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592778,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/egypts-cib-plans-to-acquire-a-stake-in-an-unnamed-kenyan-bank\/","url_meta":{"origin":548312,"position":1},"title":"Egypt\u2019s CIB plans to acquire a stake in an unnamed Kenyan bank","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"M&A WATCH- CIB plans to acquire a stake in a Kenyan bank: CIB\u2019s board of directors agreed in principle to acquire an undisclosed stake in an unnamed bank in Kenya, the company said in an EGX disclosure (pdf). 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The bank recently signed an agreement with the European Investment Bank\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/297.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634723,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/banque-misr-to-retain-2016-17-earnings-to-support-capital\/","url_meta":{"origin":548312,"position":3},"title":"Banque Misr to retain 2016-17 earnings to support capital","author":"enterpriseam admin","date":"22 January 2018","format":false,"excerpt":"Banque Misr is planning on retaining 2016-17 earnings to support the bank\u2019s capital, Vice Chairman Akef El Maghraby tells Al Mal. El Maghraby refused to disclosed the bank\u2019s net profit for the year, but says it showed good growth levels. He added that Banque Misr plans to expand internationally and\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559654,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/","url_meta":{"origin":548312,"position":4},"title":"CIB sees digital banking boom","author":"enterpriseam admin","date":"31 January 2021","format":false,"excerpt":"2020 was a boom year for digital banking at CIB, which reported a 118% increase in the value of mobile banking transactions to hit EGP 53 bn, Deputy COO Mohamed Farag toldthe press. The total number of retail customers using internet banking services increased 35% during the year, he said.And\u2026","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/368.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634856,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/28\/banque-misr-in-talks-to-borrow-usd-650-mn\/","url_meta":{"origin":548312,"position":5},"title":"Banque Misr in talks to borrow USD 650 mn","author":"enterpriseam admin","date":"28 January 2018","format":false,"excerpt":"Banque Misr is in \u201cadvanced talks\u201d with international lenders to secure USD 650 mn in funding, Chairman Mohamed El Etreby told Bloomberg\u2019s Mirette Magdy. El Etreby expects the agreements to be signed in March. 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