The board of directors of Oriental Weavers Carpet approved the authorisation of the Managing Director and CEO, Salah Abdel Aziz, to sign a promissory note worth EUR 5 million ($5.93 million) with Attijariwafa Bank.
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The CEO was also delegated to sign another promissory note and loan deal worth $7 million with Emirates NBD, Oriental Weavers Carpet said in a bourse disclosure on Sunday.
In addition, the board also approved the inauguration of three new branches in Qena, Fayoum, and Kafr El-Sheikh.
