{"id":323493,"date":"2021-09-29T11:49:25","date_gmt":"2021-09-29T11:49:25","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323493"},"modified":"2021-10-03T10:42:28","modified_gmt":"2021-10-03T10:42:28","slug":"national-bank-of-egypt-wins-licence-to-open-saudi-arabia-branch","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/29\/national-bank-of-egypt-wins-licence-to-open-saudi-arabia-branch\/","title":{"rendered":"National Bank of Egypt wins licence to open Saudi Arabia branch"},"content":{"rendered":"<p>Saudi Arabia\u2019s Cabinet approved on Tuesday a licence for the state-run National Bank of Egypt (NBE) to open a branch in the kingdom, Saudi state news agency SPA reported.<\/p>\n<p>The decision made during the Cabinet\u2019s virtual session chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prime Minister.<\/p>\n<p>The Cabinet authorised the Minister of Finance to decide on any subsequent request to open other branches of the Egyptian bank in the kingdom, the statement added<\/p>\n<p>Yehia Aboul Fotouh, Vice President of NBE said it will start working on the procedures needed and the appropriate location will be chosen and prepared so the bank can start operation in Saudi soon.<\/p>\n<p>He stressed that the Saudi market is large and promising, in addition to the presence of more than three million Egyptians working in the Kingdom.<\/p>\n<p>The bank official said it\u2019s now in talks with the responsible Saudi authorities, to determine the capital of the branch, which must comply with Saudi laws.<\/p>\n<p>The vice president also announced the imminent opening of a branch of the bank in Juba, the capital of South Sudan, after obtaining all approvals for the license, in addition to its branch in Khartoum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s Cabinet approved on Tuesday a licence for the state-run National Bank of Egypt (NBE) to open a branch in the kingdom, Saudi state news agency SPA reported.<\/p>\n","protected":false},"author":4,"featured_media":320227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-323493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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