BANKING

20 Feb 2020

EBI trains 53,000 beneficiaries 2H 2019, targets 10% growth in 2020: Abdel Aziz Nossier

Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt, has trained a total of 53,000 beneficiaries in the second half (2H) of 2019, EBI Executive Director Abdel Aziz Nossier said in a Wednesday press conference.

Nossier"...

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19 Feb 2020

Egypt central bank seen keeping key interest rates steady

CAIRO: Egypt’s central bank is likely to keep interest rates on hold for a second straight time on Thursday, a Reuters poll suggested, though some analysts expected another cut after inflation ticking up in January.

Six"...

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17 Feb 2020

Western Union Launches Worldwide Coronavirus Relief Drive

(AETOS Wire)-- Today, Western Union (NYSE: WU) a leader in cross-border, cross-currency money movement and payments, and the Western Union Foundation announced a USD $1M global matching challenge to help fight COVID-19 (coronavirus) and for relief in China and other affected countries. The combined Western Union and Western Union Foundation match will be up to USD $500,000. The Western Union Foundation is accepting contributions from Western Union employees, Agents, customers, and the public, across the globe between now and April 14, 2020. The aid will be pledged to local and global NGOs, including Give2Asia and International Medical Corps*......

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17 Feb 2020

1.86 Customer Minutes Lost (CML) of Electricity per Year in Dubai

Dubai Electricity and Water Authority (DEWA) has achieved a new world record in electricity Customer Minutes Lost (CML) per year. DEWA recorded 1.86 minutes, in Dubai, compared to around 15 minutes recorded by leading electricity companies in the European Union. This is a new addition to"...

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16 Feb 2020

Expected change in banks map Egyptian market

It seems that the Egyptian market is on a date with strong changes in the map of the banks operating in it during the coming period. This may be the second wave of the re-arrangement of the Egyptian banking market, after the first wave that accompanied the first banking reform programme.

"...

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15 Feb 2020

IFC helps Egypt's microfinance company build capacity, boost outreach

IFC, a member of the World Bank Group, signed an agreement with Egypt’s largest microfinance organization Tanmeyah, to help increase its sustainability and boost its outreach to underserved groups across the country.

IFC’s"...

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13 Feb 2020

Deutsche Bank expects US dollar to reach EGP 15.5 by June, EGP 15 by December

Deutsche Bank expected that the Egyptian pound will continue to strengthen against the US dollar to reach EGP 15.5 by the end of the first half of 2020 and EGP 15 by the end of the year.

According to a bank report,"...

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12 Feb 2020

EIB provides technical assistance for the upgrade of Cairo Metro Line 2

The European Investment Bank (EIB) has signed a EUR 1.2 million Technical Assistance agreement with the Egyptian National Authority for Tunnels to conduct a Feasibility Study for the rehabilitation of Cairo Metro Line 2.

The"...

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11 Feb 2020

The Egyptian government promotes sale of Cairo International Bank

The Egyptian government started a promotional campaign in the US to sell Cairo International Bank (CIB), which has 124 branches nationwide, as well as 6 branches in Arab countries and 2 in Africa.

According to"...

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11 Feb 2020

EBRD’s Vice President of Banking visits Egypt

Vice President of the European Bank for Reconstruction and Development (EBRD) Alain Pilloux is visiting Egypt from 9 to 13 February for meetings with government officials and the private sector as well as launching the Bank’s activities in Ismailia, according to a Monday statement"...

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