Tag: Egypt
Egyptian banks suspend debit card use in foreign currency
Commercial International Bank told accountholders that debit cards could only be used for Egyptian pound transactions within the country.
Visa opens office in Egypt, plans to expand across NALP region
With the new office, Visa aims to strengthen its ongoing talent acquisition strategy by attracting and retaining key talent.
OFID allots $10 million to support food security in Egypt
The facility will assist in the import of vital food and agricultural commodities.
Intesa Sanpaolo mulls taking full ownership of Egypt’s ALEXBANK
ALEXBANK is one of Egypt’s main private sector banks with 175 branches and 1.6 million customers.
ADEX, National Bank of Egypt signs $100 million credit agreement
The financing agreement seeks to bolster economic activities and further enhance the already fertile trade landscape between the UAE and Egypt
Egypt seeks to raise $5 billion from state IPO program by mid-2024
The government announced that it collected $5 billion from offering stakes in 13 companies between March 2022 and July 2023.
Network International invests EGP 1 billion in Egypt
The payments firm plans to use part of the investment to acquire, deploy and maintain around 100,000 POS machines
NBK-Egypt posts EGP 1.57 billion in H1 2023 net profit
NBK-Egypt said its net operating income in the six months to June 30, jumped by 95% to EGP 3.9 billion.
Middle East investors to inject $120 billion in Egypt
The UAE invested in 71 projects worth a record $5.6 billion in 2021 alone, with the most significant being The Agtech Park.
Al Baraka Bank posts EGP 1.02 billion in profit H1 2023
The bank achieved a net profit margin of 5.2% compared to 4.3% in the first half of 2022