BANKING

18 Feb 2018

Attijariwafa Bank Egypt loan portfolio grew 31% at end-Q3 2017

Real estate, energy, food, leasing, microfinance sectors accounted for large part of bank’s loans

Attijariwafa Bank-Egypt achieved a 31% growth in total loans by the end of Q3 2017, after the bank registered"...

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17 Feb 2018

Egypt's central bank cuts interest rates as inflation eases

The Egyptian central bank cut its main interest rates by a percentage point each on Thursday, the first time it has lowered them since letting the currency float freely in 2016, as inflation sinks to its lowest levels in at least a year.

The"...

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14 Feb 2018

Fiorano Contributes to Kenya’s Digital Leap with I&M Bank

(AETOS Wire) -- Fiorano Software announced today that I&M Bank, Kenya has chosen the Fiorano platform to achieve digital transformation to reduce time-to-market while integrating its Finacle, Core Banking System. I&M Bank’s need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements. The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs. “Fiorano has made our digital journey easy and cost effective,' said Rohit Gupta, Group CIO,......

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13 Feb 2018

Egypt: $2.6bn remittances received from expats in December

Egypt’s Central Bank (CBE) said yesterday that the volume of remittances from Egyptians working abroad increased by 29.3 per cent year-on-year to reach $2.6 billion in December last year.

The Bank said in"...

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10 Feb 2018

Banque Misr, ExxonMobil launch e-payment service for petroleum services

Banque Misr, in collaboration with Visa and ExxonMobil Egypt, initiated on Thursday a strategic partnership to expand electronic payment for petroleum services through 100 Exxon Mobil stations, as a first stage.

"...

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08 Feb 2018

Egypt set to launch innovation fund worth 1 bln pounds

Governor of the Central Bank of Egypt (CBE) Tarek Amer said that the possibility of the launching a 1 billion fund is under study tol support innovation, according to his speech at the second day of the Financial Technology (FinTech) conference 'Seamless North Africa'.

He"...

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07 Feb 2018

Egypt signs MoU with Singapore at FinTech conference in bid to become major innovation hub

The Central Bank of Egypt (CBE) and the Monetary Authority of Singapore signed a Memorandum of Understanding on Tuesday to “share experiences” in financial technology (Fintech), according to a CBE press release.

The"...

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07 Feb 2018

Fiorano Powers Banco Postal’s Commitment Towards Financial Inclusion and Digitalization of Angolan Economy

(AETOS Wire) -- Fiorano Software announced today that Banco Postal, Angola has successfully implemented the Fiorano Platform to tackle integration challenges in its digital transformation journey. Banco Postal opted for Fiorano for its native integration with T24, the Core Banking System from Temenos. Marcelo Barreto, Head of IT, Banco Postal said, “Banco Postal is built on a strong commitment for financial inclusion in Angola. Having such an innovative approach to banking, the technical challenges were one of the biggest constraints to the success of such implementation. Fiorano enabled us to swiftly tackle these restrictions, removing......

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03 Feb 2018

QNB Most Valuable Banking Brand in Middle East and Africa with a Value of US $4.2bn

QNB Group, the largest financial institution in the Middle East and Africa, was recognized once again as the most valuable banking brand in the Middle East and Africa region with brand value worth US $4.2bn, according"...

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31 Jan 2018

[Egypt] Cairo Angels joins forces with EG Bank to launch the mint incubator

Cairo Angels, Egypt’s first formal angel investors’ network has launched the Mint startup incubator, created in partnership with EG Bank. With an intense, highly competitive three-month incubation programme, the incubator is designed to accelerate the growth of product-ready"...

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