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QNB named most valuable banking brand in Middle East and Africa

“QNB Group has maintained its ranking of the most valuable banking brand in the Middle East and Africa region,” according to the annual survey carried out by Brand Finance and published by The Banker magazine, an affiliate to the internationally acclaimed Financial Times newspaper. The award also placed the QNB brand among the Brand Finance …

Hossam Mounir

Metropolitan Egypt

Metropolitan Egypt negotiates with bank to secure financing for 3 companies

Metropolitan Egypt is negotiating with a number of banks to provide financing worth EGP 14m to three companies working in chemicals, medical devices, and contracting, according to company head Khaled Nagaty. Yasser Kamal, credit supervisor at Metropolitan Egypt, said that ProPlan Contracting needs financing of EGP 5m, in addition to letters of guarantee worth EGP …

Hossam Mounir

HDB graduates first batch in the SMEs financing training course

The Housing and Development Bank (HDB) and FA Group for Financial Consulting have held a graduation ceremony for the first batch of small- and medium-sized enterprises (SMEs) financing training course, which included 25 of the bank’s employees. Graduation certificates were given to the trainees in the presence of the former governor of the Central Bank …

Daily News Egypt

Dollar climbs to EGP 18 at banks on Monday

The US dollar climbed to EGP 18 on Monday at banks operating in Egypt. The average rate for the dollar at most banks on Monday registered EGP 17.55 to buy and EGP 17.95 to sell. HSBC Bank was offering to sell US dollars at EGP 18. The dollar has been gaining ground against the Egyptian …

Daily News Egypt

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