Banking and Finance

Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …

Cairo – Mubasher: Chairman of the Egyptian Sugar and Integrated Industries Company (ESIIC), Essam El-Bedeiwy, said his company received three international offers to establish an ethanol or absolute alcohol (99.99%) extraction factory from …

Cairo – Mubasher: The Egyptian Sugar and Integrated Industries Company (ESIIC) plans to establish 3 fertiliser production factories with up to EGP 480 million investments, the Middle East News Agency (MENA) reported on Tuesday. The statement was …

Cairo – Mubasher: The board of directors of Egyptian Gulf Bank (EG Bank) has approved the bank's estimated budget for fiscal year (FY) 2023 during a meeting on Monday, 5 December. The bank’s profits are expected to grow by more than 15% on an …

Cairo – Mubasher: Banque Misr and Commercial International Bank (CIB) have arranged and granted joint financing worth EGP 6.35 billion to Benya Group. The funding will be used in financing projects awarded to Benya covering the technological …

Cairo – Mubasher: The Central Bank of Egypt (CBE) has offered treasury bonds (T-bonds) at an aggregated value of EGP 12.75 billion through three issues on Monday, in coordination with the Ministry of Finance (MoF) to finance the budget deficit. …

Cairo – Mubasher: Egypt's Finance Minister, Mohamed Maait, said his country hopes to obtain the first tranche of the International Monetary Fund (IMF) loan valued at $750 million this month. During a recent press conference, the minister added the …

Cairo - Mubasher: The ordinary general meeting (OGM) of the Egyptian Modern Education Systems has unanimously approved interest-free financing not exceeding EGP 100 million.   The financing will be granted by the board of directors to start …

Cairo – Mubasher: The National Bank of Egypt (NBE) has signed a long-term investment financing contract valued at EGP 393 million with the Egyptian General Company for Tourism and Hotels (EGOTH) to finance renovations of the Sofitel Winter Palace …

Cairo - Mubasher: The board of Raya Contact Center approved unanimously increasing the limit of the $500,000 loan granted to Gulf Customer Experience, a  Bahrain-based subsidiary, by an amount not exceeding $3.50 million. The loan’s maturity …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth EGP 27.50 billion through two offerings on Sunday, 4 December. With a tenor of 91 days until 7 March 2023, the first auction stood at EGP 7.50 billion, …

Cairo – Mubasher: The Egyptian cabinet has approved a draft decision regarding a financing agreement worth $271 million between Egypt and the African Development Bank (ADF) for a programme to support food security and economic resilience.  This …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 26 billion through two tranches on Thursday, 1 December. The first offering stood at EGP 4.50 billion and will mature in 182 days on 6 …

Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, has witnessed the signing ceremony of financial closure agreements between UAE’s AMEA Power and a number of international financing institutions at $1.10 billion. AMEA Power will …

Riyadh – Mubasher: Dur Hospitality Company has secured Sharia-compliant Murabaha financing worth SAR 257 million from Alinma Bank on 29 November 2022. The Murabaha facility holds a 10 years duration period from the date of obtaining the funding, …

Riyadh - Mubasher: Ladun Investment Company has obtained a non-revolving facility worth SAR 750 million from Bank Albilad on 29 November 2022, according to a bourse filing. The Tadawul-listed firm will use SAR 500 million, which will be paid over …

Riyadh – Mubasher: Saudi Arabia has extended the term of a deposit valued at $5 billion for the Central Bank of Egypt (CBE), Saudi Press Agency (SPA) reported.  The decision comes in line with the Kingdom's objective to boost cooperation between …

Riyadh – Mubasher: Saudi Kayan Petrochemical Company paid $644 million (SAR 2.40 billion) as the last instalment of the senior loans worth $6 billion (SAR 22.50 billion) ahead of the scheduled plan. The Tadawul-listed company fully settled the …

Riyadh - Mubasher: Standard Chartered Bank has appointed Mazen Fahad Al Bunyan as its CEO for Saudi Arabia, according to a recent press release. Before joining Standard Chartered Bank, Al Bunyan served as the CEO of Alawwal Invest Company, an …

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that the financial inclusion rate soared by 131% during the period from 2016 to June 2022, the Middle East News Agency (MENA) reported on Sunday. Out of the 65.40 million citizens aged 16 …

Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 7.50 billion through one offering on Monday, 28 November. The tranche holds a three-year tenor until 1 November 2025, according to official data. …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 28.50 billion through two tranches on Sunday, 27 November. Holding a 91-day maturity period until 28 February 2023, the first auction …

Mubasher: Bahrain-based Al Salam Bank, listed on Dubai Financial Market (DFM), signed an exclusive partnership agreement with Visa to provide advanced banking experience and varied payment methods for Visa cardholders, according to a press …