UAE - Mubasher: Mastercard has entered into a partnership with the UAE-based LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets. The partnership, extending across Bahrain, Kuwait, Oman, …
Cairo – Mubasher: The extraordinary general meeting (EGM) of Export Development Bank of Egypt (EBank) has approved raising the authorised capital to EGP 20 billion from EGP 10 billion. The EGM also ratified increasing the bank’s issued and paid-up …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 75 billion through two issues on Thursday, 4 July. Holding a tenor of 182 days until 7 January 2025, the first issue was valued at EGP 30 …
Cairo – Mubasher: The Central Bank of Egypt (CBE) has collected liquidity amounting to EGP 1.08 trillion through its open market operations on Tuesday. The monetary authority had issued new rules for its main open market operations, switching from …
Cairo – Mubasher: Al Baraka Bank-Egypt has signed a cooperation agreement with Raya Information Technology Company, a subsidiary of Raya Holding Company for Financial Investments, for credit facilities of up to EGP 550 million or its equivalent in …
Cairo – Mubasher: Egypt achieved a foreign asset surplus for the first time since January 2022, marking a 28-month milestone, in May 2024. Egypt reported a foreign asset surplus of EGP 676.40 billion ($14.03 billion) in May 2024, compared to a …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a combined value of EGP 8 billion through two auctions on Monday, 1 July. The first tranche stood at EGP 2 billion and will mature in two years on 2 July 2026, …
Cairo – Mubasher: Global law firm Norton Rose Fulbright has advised a syndicate of lenders on a $1 billion senior unsecured term loan facility to the National Bank of Egypt (NBE), according to a press release. The syndicate of lenders covered 19 …
Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, closed a short-term note issuance valued at EGP 433 million for a one-year term for EFG Corp-Solutions, a subsidiary of EFG Finance. This transaction is considered the first of its kind …
Cairo – Mubasher: Egypt inked a facility deal valued at EUR 5 billion with the European Union (EU), according to a recent press release. Rania El-Mashat, Egypt’s Minister of International Cooperation, highlighted that the financing follows the …
UAE – Mubasher: Newgen Software, a global provider of low-code digital transformation platforms, has launched generative AI-powered hyper-personalisation platform LumYn in the Middle East. LumYn is tailored for the banking sector and is set to …
Cairo – Mubasher: The Financial Regulatory Authority (FRA) passed the capital raise requests of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) and e-finance for Digital and Financial Investments, according to bourse disclosures. ADIB Egypt will …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at an aggregated value of EGP 60 billion through two auctions on Thursday, 27 June. The first issue was valued at EGP 40 billion and will mature in 91 days on 1 …
Cairo – Mubasher: Egypt-based fintech company Connect Money has closed an $8 million seed funding round led by Disruptech Ventures and Algebra Ventures. The new funding will support Connect Money's plans to introduce five new business verticals in …
Dubai – Mubasher: Mashreq Bank has extended its partnership with Oracle Financial Services to back its growth plans worldwide, according to a press release. The lender will replace its core systems with Oracle solutions to streamline and enhance …
Cairo – Mubasher: Commercial International Bank-Egypt (CIB) has increased the limit on foreign-currency spending in and outside Egypt using credit cards. The bank also reduced the Foreign exchange markup fees to 5% for all cards, according to a …
Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) has changed its name to QNB, aligning its local brand with the parent group as it eyes opportunities in the Egyptian market. The name change reflects QNB's strength and competitive …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion through two issues on Monday, 24 June. With a value of EGP 30 billion, the first tranche will mature in 91 days on 24 …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has entered into a strategic collaboration with DIFC Innovation Hub to fast-track fintech adoption in the region. The UAE’s DIFC Innovation Hub is home to more than 700 growth-stage tech firms …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 45 billion through two issues on Sunday, 23 June. The first auctions stood at EGP 25 billion and will mature in 182 days on 24 December …
Dubai – Mubasher: The listed Commercial Bank of Dubai (CBD) has teamed up with Emirates Development Bank (EDB) through a strategic partnership to enhance and facilitate international trade services, according to a press release. The collaboration …
Cairo – Mubasher: The National Bank of Egypt (NBE) has announced, on 19 June 2024, the successful signing of a $1 billion senior unsecured syndicated term loan facility in which several regional and global financial institutions participated. The …
Cairo – Mubasher: Egyptian debt market is gaining back its lure after the recent reforms in the economy and the increase in interest rates and the devaluation of the currency, according to an analysis by Financial Times. Egypt's local bonds have …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 50 billion through two offerings on Thursday, 13 June. The first auctions stood at EGP 30 billion and will mature in 91 days on 17 …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
