The company is preparing to launch new services and access 17 million users
Latest by Hossam Mounir
Five UAE banks currently operate in the Egyptian market; Emirates NBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank, and Mashreq.
The forum is held in cooperation with the Financial Times Live, and The Banker, under the sponsorship of Daily News Egypt
Both banks attracted liquidity from outside banking sector, dollar selling operations to subscribe in both, says NBE Chairman
Banks are obliged to deposit the amounts the will obtain with the CBE, with interest
A prominent banker told Daily News Egypt that banks operating in the Egyptian market have not yet received any official or written instructions to convert the debts of their importing clients from dollars to Egyptian pounds.
The Egyptian-American Enterprise Fund (EAEF) targets increasing its investments in the Egyptian market to $1bn, according to the fund’s board member Hani Sarie-Eldin. The fund recently acquired a 20% stake of Fawry for e-payments. The deal was worth $20m. Sarie-Eldin said another deal was signed days ago at a cost of $65m, however refusing to …
Dollar was devaluated by 20 piasters on Wednesday
By Mohamed Alaa El-Din and Hossam Mounir Fawry Company will allocate EGP 20m for investments in payment solutions for the electronic trade sector in the upcoming period, company CEO Ashraf Sabry revealed in a statement to Daily News Egypt. The service will launch before the end of the first quarter of 2016, he said. However, …
Approximately 20% of the shares were acquired by the Egyptian American Enterprise Fund, 40% by Helios International Partners (on behalf of the funds it consults for), and 25% of the share was acquired by the MENA Long Term Value Fund.
Dollar fell in black market for hours until it suddenly stopped
The central bank will also cover 25% of the temporary credit facilities granted by banks to their clients importing in foreign currencies
Daily News Egypt has learned that the NBE certificates succeeded in attracting about EGP 8bn on Tuesday, increasing the total amount of certificates bought to date to EGP 11.5bn.
Analysts ruled out that the owners of the Suez Canal investment certificates, in the segment of EGP 1,000 and its multiples, would refund these certificates to purchase the ‘Platinum Certificate’ and the ‘Certificate of the Top’ issued by the National Bank of Egypt (NBE) and Banque Misr, which have an interest rate of 0.5% more …
The National Bank of Egypt (NBE) and Banque Misr offered, Sunday, savings certificates with an interest rate of of 12.5% per annum, paid monthly.
Tarek Amer holds frequent meetings with public bank heads to discuss developments in the foreign exchange market and to solve the problems they face
Intensified meetings in banks to discuss the move’s effects on customer deposits
They surprised banking market with launch of two certificates with annual returns of 12.5%
UNB supports Emirati investors in Egypt, and issued letters of guarantee worth $150m for the National Drilling Company to dig the New Suez Canal
The step aims at combating dollarisation, and banks issued two similar certificates in 2004, says Analyst
Bank launches14 new branches, number of ATMs increases to 321
Foreign exchange reserves at the Central Bank of Egypt (CBE) increased by $80m during October, to reach $16.415bn from $16.335bn in September, according to a CBE statement on Wednesday.
Partnership Development conference seeks to integrate financial leasing in economic development plans
Electronic individual payments can increase by 20% in seven years if supported by government, says Regional Manager of Visa
Bank opened six new branches and banking units, plans to expand in about eight governorates
EGP 29.5bn increase in deposits, EGP 10.7bn increase in bank loans during August: CBE
The bank was also ranked the first on the list of popular official pages on Facebook, where the number of fans of the Banque Misr official page exceeded one million.
New governor holds meetings with bank leaders and representatives of various economic sectors
The head of a public bank is expected to serve as a deputy governor
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor