banking

Bank ABC acquires Blom Bank Egypt for $480 million – sources
Business

Bank ABC acquires Blom Bank Egypt for $480 million – sources

CAIRO (Reuters) – Bahrain’s Bank ABC completed its purchase of the Egyptian subsidiary of Lebanon’s Blom Bank for $480 million…
NBE reduces interest rate on 3-year Platinum Certificates
Business

NBE reduces interest rate on 3-year Platinum Certificates

The National Bank of Egypt reduced the interest rate or return on its three-year Platinum Certificates, the return of which…
UAE central bank urges commercial lenders to use stimulus scheme
Business

UAE central bank urges commercial lenders to use stimulus scheme

DUBAI (Reuters) — The United Arab Emirates (UAE) central bank has urged commercial lenders to use the US$70 billion-worth of…
Egypt honors ‘Top 50 Women of 2019’
Egypt

Egypt honors ‘Top 50 Women of 2019’

Egypt’s Ministry of Planning and Economic Development honored 50 women, many of them leaders in the finance and banking sectors,…
Central Bank of Egypt suspends banking work on Tuesday
Business

Central Bank of Egypt suspends banking work on Tuesday

The Central Bank of Egypt has suspended work for local and foreign banks in Egypt on Tuesday as part of…
European Bank for Reconstruction and Development (EBRD) appoints Egyptian Soha El-Turky as Vice President and CFO
Business

European Bank for Reconstruction and Development (EBRD) appoints Egyptian Soha El-Turky as Vice President and CFO

The European Bank for Reconstruction and Development (EBRD) appointed Egypt’s Soha El-Turky as its new Vice President and Chief Financial…
Total deposits with banking system reach LE3.6 trillion in September: CBE
Economy

Total deposits with banking system reach LE3.6 trillion in September: CBE

  The Central Bank of Egypt (CBE) announced that the total deposits with the banking system, other than the CBE,…
Iran says U.S. sanctions will have ‘severe consequences’ for world order
Middle East

Iran says U.S. sanctions will have ‘severe consequences’ for world order

LONDON (Reuters) – U.S. sanctions against Iran will have “severe consequences” for the world order, Iranian Foreign Minister Mohammad Javad…
Wells Fargo to pay $1B for mortgage, auto lending abuses
World

Wells Fargo to pay $1B for mortgage, auto lending abuses

Wells Fargo is being fined a combined $1 billion by two federal regulators for abuses tied to its mortgage and…
Four banks to issue Sisi’s ‘Safety Certificate’ next week
Business

Four banks to issue Sisi’s ‘Safety Certificate’ next week

The National Bank of Egypt, Banque Misr, Banque du Caire, and the Agricultural Bank of Egypt will offer the Safety…
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