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SMEs need more than bank loans with low interest rates to succeed: experts

During his meeting with Minister of Industry and Trade Tarek Kabil, President Abdel Fattah Al-Sisi emphasised the importance of small- and medium-sized enterprises (SMEs) and how these could improve Egypt’s economy. The president noted that banks should provide loans with low interest rates not exceeding 5%, as the Central Bank of Egypt (CBE) initiative stipulated. …

Hisham Salah

What are the challenges facing the Egyptian economy in the eyes of dealers?

Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …

Hossam Mounir

Asian Development Bank ups its clout

With a simply trick, the Asian Development Bank will greatly increase its financial fire power. Is there a catch? Is the move a reaction to competition by China’s new development bank, asks Andreas Becker in Frankfurt.

Deutsche Welle

EGP 1.8bn increase in Barclays Egypt bank loans in 9 months

Clients’ loans in Barclays Egypt increased by EGP 1.8bn during the first nine months of 2015, from EGP 5.3bn in December 2014 to EGP 7.1bn in September 2015, a growth of 34%, according to Mohamed Sherif, member of the bank’s board of directors and director of the financial department. Barclays Egypt achieved an increase in …

Daily News Egypt