Mastercard: Egypt’s new capital to become an integrated smart city

Mastercard Inc says it is cooperating with the Egyptian government to use electronic payment solutions in the new administrative capital, making it the first integrated smart city in Egypt.

“… we"...

Egypt will issue plastic currency starting with ُEGP 10 notes

The Central Bank of Egypt said the country will start issuing plastic currency, starting with the LE 10 ($0.64) notes, as banknotes will be printed in the New Administrative Capital’s printing facilities according to deputy governor Gamal Negm,.

Negm"...

Creating job opportunities essential job of central banks: CBE Deputy Governor

Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said job creation is an essential part of the work of central banks, which explains why the CBE launched several initiatives to support economic sectors that require high labour force, such as industry, tourism, real estate,"...

Central Bank of Egypt meets 266 defaulters to settle $4B worth debts

Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said the bank, until 27 February, met with 266 defaulted clients to settle their debts.

This came within the efforts made by CBE to settle debts up"...

CBE meets 266 defaulters to settle EGP 63.6bn worth debts

Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said the bank, until 27 February, met with 266 defaulted clients to settle their debts. This came within the efforts made by CBE to settle debts up to EGP 10m.

Negm"...

Egypt’s housing bank pumps EGP 1.26B into mortgage finance during 2019

Egyptian state-owned Housing and Development Bank’s (HDB) has posted mortgage finance portfolio of 1.26 Egyptian pounds ($80 million) to 11.294 beneficiaries during 2019.

According to a source with knowledge"...

i2c Expands Presence in Middle East and Africa Due to High Demand for Its Agile Processing

i2c Inc., a leading provider of payment and open banking technology, today announced it is expanding its presence in the Middle East and Africa (MEA) due to high demand in the region for its solutions. i2c partners with financial institutions, fintechs and governments using its unique i2c agile processing technology and APIs to bring innovative credit, debit, prepaid, and multi-currency solutions to market quickly. To support the growth in MEA, i2c added a General Manager position to its team and is announcing today the appointment of payments industry veteran Aurangzaib Khan to the position. Khan is based in Dubai. Prior to joining i2c, Khan......

Jim McCarthy Joins i2c as President

i2c Inc., a leading provider of payment and open banking technology, today announced the appointment of Jim McCarthy as President of the company. Reporting to i2c CEO and founder Amir Wain, McCarthy is responsible for i2c teams working with clients, partners and prospects. He is based at i2c headquarters in Silicon Valley. McCarthy is an industry veteran with over 20 years of experience in financial services across all stakeholders in the payments and open banking industries. Most recently, he has served as a strategic consultant and advisor to many Silicon Valley fintech startups. At Visa, where McCarthy worked for eighteen years, he held senior......

Foreign investments in Egyptian T-bills increase by EGP 35.1bn by end of January 2020: CBE

The Central Bank of Egypt (CBE) has said that foreign investments in treasury bills increased by about EGP 35.1bn in January 2020, to reach about EGP 289.4bn, compared to about EGP 254.3bn at the end of December 2019.

Foreign"...

Banque Misr allocates EGP 30M for Al Nas Hospital

Banque Misr has signed a cooperation protocol to fund Al Nas Hospital in Qalyubia governorate with LE 30 million.

The bank said in a statement on Wednesday that the funding aims to provide requirements of the"...