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Banking & Finance

Banque du Caire secures $100 million loan from EBRD, British International Investment

Arabiya Capital Staff -
Banque du Caire (BDC) has secured a $100 million subordinated loan from the European Bank for Reconstruction and Development (EBRD) and British International Investment...
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Commercial International Bank fully acquires Mayfair CIB for $40 million

Arabiya Capital Staff -
Commercial International Bank (CIB) said Sunday that it has acquired the 49% stake it did not own in Mayfair CIB for $40 million giving...
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EFG Hermes’ valU, Sympl partner for short-term BNPL plans

Arabiya Capital Staff -
Egyptian buy now pay later (BNPL) firm valU said Thursday that it has partnered with fintech firm Sympl to allow the its clients to...
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Qatar Investment Authority hikes stake in Credit Suisse to nearly 7%

Arabiya Capital Staff -
Qatar Investment Authority (QIA) has doubled its stake in Credit Suisse to 6.87% from about 5.6% previously to become the second-biggest shareholder in the...
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Egypt inks $1.5 billion financing agreement with ITFC

Arabiya Capital Staff -
Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund the country’s trading, including imports of...
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Egyptian wealth fund partners with Etisalat Egypt to launch Erada Microfinance

Arabiya Capital Staff -
The Sovereign Fund of Egypt (TSFE) has joined forces with Etisalat Egypt by e& to launch Erada Microfinance to provide access to a wide...
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Here’s why EFG Hermes is considering exiting 3 markets

Arabiya Capital Staff -
EFG Hermes said Tuesday that it plans to exit its operations in Pakistan and Jordan as part of the Egyptian universal bank’s broader strategy...
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Egypt gets $925 million from foreign investors after currency devaluation

Arabiya Capital Staff -
Egypt received over $925 million in foreign-exchange inflows since 11 January 2023 when the pound plunged by 16% to an all-time low of 32.1...
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Saudi National Bank plans to boost capital by $4.1 billion

Arabiya Capital Staff -
Saudi National Bank (SNB), the Gulf state’s largest lender, said Thursday that it will increase its paid-up capital by $4.1 billion to strengthen the...
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Egyptian pound plunges to record low against the US dollar

Arabiya Capital Staff -
Egypt’s pound plunged further on Wednesday reaching a record low of 31.4 to the dollar as the North African country moved to a more...
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