The Suez Canal Bank, one of the banks issuing investment certificates for the new Suez Canal project, is ready to exchange the yield on the three-month certificates on 7 December, said bank president Tarek Kandil.
Speaking in a press statement on Monday, Kandil added that the bank has finalized its action plan for the next three years, and expects the Egyptian economy to recover significantly during the next year.
Kandil also expressed optimism towards tourism indicators and growth rates, following the implementation of the road map, and holding the parliamentary elections.
The bank had been working during the past three years using emergency plans, he said.
There are sectors not affected by the political events in terms of investment and funding, such as the food and medicine sectors, according to Kandil.
"If subscription of new investment certificates of the Suez Canal had not been stopped after eight days, the proceeds would have amounted to LE80 billion," according to Kandil.
Edited translation from Al-Masry Al-Youm
