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UK to establish new finance facility to support trade, exports with Egypt
The UK will establish a new finance facility, located in Egypt, that aims to reinforce trade ties between the two countries, particularly in the exports sector, said Emma Wade-Smith, the UK’s Trade…
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IFC, Egypt’s Fintech Association join forces to support sector’s entrepreneurs
The International Finance Corporation (IFC), a member of the World Bank Group, is cooperating with the Egyptian Fintech Association to support financial technology (fintech) entrepreneurs as part of a…
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CBE urges banks to facilitate measures for opening new bank accounts
The Central Bank of Egypt (CBE) issued new set of regulations for banks to facilitate measures required for opening new bank accounts for citizens.
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Abu Dhabi Islamic Bank Egypt profits at EGP 1.196 billion at 2020-end
Abu Dhabi Islamic Bank Egypt (ADIB Egypt) reported on Wednesday positive consolidated financial results for the financial year ending December 31, 2020 despite the many economic challenges of that…
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World Bank to announce new strategic partnership with Egypt for next 4 years
The World Bank plans to focus on improved governance, private sector job creation and social inclusion in Egypt under its 2021-2025 Country Partnership Framework, which the bank is currently drawing…
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Comprehensive restructure plan in place for Egyptian agricultural development company: ABE Chairperson
The Agricultural Bank of Egypt (ABE) has commenced a restructure plan to develop the Egyptian Company for Agricultural and Rural Development has commenced, the bank’s chairperson Alaa Farouk revealed.
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CBE extends exemption of 3 commodity imports 1 more year from cash requirement
The Central Bank of Egypt (CBE) has extended the exemption period for rice, lentils, and beans from the 100 percent cash cover requirements for one year ending on 15 March 2022.
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Egypt seeks to develop technology centres to boost national industries
Egypt is keen on developing the technological centres to serve as the technical arms of the national industry in order to boost competitiveness of Egyptian industrial products to meet the needs of…
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Increased Egyptian expat remittances positive for economy: Moody’s
Egypt’s recent increase in its expat remittances has had a positive effect on recipient households, on the broader economy as well as Egyptian banks as it supports their deposit-based funding profile…
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Egypt to hold 1st training program for municipal African officials
The National Institute for Governance and Sustainable Development (NIGSD) - the training arm of the Ministry of Planning and Economic Development – announced the launch of the first training program…
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