Hossam Mounir

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BLOM BANK announces execution of SPA for Egypt operations

A definitive agreement has been signed by BLOM Bank and the Arab Banking Corporation (Bank ABC) that will see the former sell its entire 99.4% stake in its Egypt operations to the latter. In an announcement by the two sides, the sale will take place subject to its obtaining the necessary approvals from the Central …

Hossam Mounir

HSBC eyes regional growth opportunities as GDP, trade rebound

HSBC has ambitious business plans in the Middle East, North Africa and Turkey (MENAT), where a rebound in GDP and international trade will position the region as one of the fastest growing in the world over the coming decade. As the nine markets in which the bank operates in the region bounce back from the …

Hossam Mounir

The Central Bank of Egypt (CBE) has launched a new EGP 15bn initiative to finance the dual-fuel vehicle conversion plan, with a lump-sum return of 3%.

Central Bank of Egypt issues instructions to manage operating risks at banks

The Central Bank of Egypt (CBE) has issued new instructions regarding the management of operation risks at banks working in the Egyptian market. The CBE also said that it is continuously following up on and applying international practices in the field of banking supervision in the Egyptian banking system. This takes place by regular observation …

Hossam Mounir

nevine gamea , MSMEDA

MSMEDA provides EGP 3.7bn in funding to youth projects during 11M 2020

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) provided EGP 3.7bn in funding to 124,000 small and micro businesses from January to November 2020, according to Minister of Trade and Industry, and MSMEDA Executive Director Nevine Gamea. The funding helped create a total of 195,000 job opportunities, Gamea said. She added that EGP 119m …

Hossam Mounir