{"id":613883,"date":"2024-01-22T00:00:00","date_gmt":"2024-01-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/22\/this-evening-standard-chartered-is-now-licensed-to-set-up-a-full-branch-in-egypt\/"},"modified":"2024-01-22T00:00:00","modified_gmt":"2024-01-22T00:00:00","slug":"this-evening-standard-chartered-is-now-licensed-to-set-up-a-full-branch-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/22\/this-evening-standard-chartered-is-now-licensed-to-set-up-a-full-branch-in-egypt\/","title":{"rendered":"THIS EVENING: Standard Chartered is now licensed to set up a full branch in Egypt"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and happy hump day-equivalent. <\/strong>The weekend is getting closer as we have one less workday this week. <\/p>\n

PSA- Banks are also in line for a long weekend:<\/strong> Like the rest of us, banks will be off this Thursday, 25 January in observance of Police Day and the 25 January revolution, according to a statement (pdf)<\/a> by the Central Bank of Egypt. As is the case for the public and private sectors<\/a>, banks will get back to work on Sunday, 28 January.<\/p>\n

THE BIG STORY TODAY-<\/strong><\/p>\n

Standard <\/strong>Chartered <\/strong>receives license to establish foreign bank branch Egypt:<\/strong> The Central Bank of Egypt (CBE) has approved British multinational lender Standard Chartered\u2019s request for a license to set up a branch in the country, according to a decision published in the Official Gazette today. The lender, which received its full banking license<\/a> from the CBE in November 2022, was operating in the country as a representative office, a limited form of business establishment. The lender is the 37th bank registered<\/a>(pdf)<\/a> with the CBE in the country.<\/p>\n

Remember: <\/strong>Finance Minister Mohamed Maait had announced<\/a> last month that Standard Chartered Egypt would begin operations in early 2024 after a Planning Ministry statement had suggested the lender would start operating before the end of 2023.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

Moves in the US primaries continue to lead the conversation in the international press <\/strong>this afternoon:<\/strong> Picking up where we left off this morning, Florida Governor Ron DeSantis dropping out of the race for the Republican Party\u2019s presidential nomination just two days before the New Hampshire primary is still making the rounds. DeSantis decided to back former president Donald Trump\u2019s bid for nomination, dealing a blow to Nikki Haley\u2019s campaign. (Financial Times<\/a> | Associated Press<\/a> | Bloomberg<\/a>)<\/p>\n

ALSO GETTING INK-<\/strong> Israeli Prime Minister Benjamin Netanyahu refused the terms of an agreement with Hamas for a hostage release, despite public pressure, in exchange for a permanent ceasefire and the release of their militants from Israel. (Reuters<\/a> | Bloomberg<\/a>)<\/p>\n

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