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11 July 10:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
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11 July 08:46 AM FRA greenlights EG Bank’s capital raise
Cairo – Mubasher: The Financial Regulatory Authority (FRA) passed the request of Egyptian Gulf Bank (EG Bank) to increase its issued and paid-up capital to $510.10 million from $499.50 million. The $10.60 million raise will be distributed over …
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9 July 09:47 AM QNB’s H1-24 net profits leap; consolidated assets hit EGP 750.3bn
Cairo – Mubasher: The consolidated net profits of Qatar National Bank Al Ahli (QNB) jumped year-on-year (YoY) to EGP 13.74 billion in the first half (H1) of 2024 from EGP 8.66 billion. QNB reported net interest income amounting to EGP 19.81 …
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8 July 12:54 PM NBK seals 5-year deal to deploy Super iPaaS solution in Middle East
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
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8 July 08:42 AM CBE auctions T-bonds worth EGP 8.2bn on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a total value of EGP 8.25 billion over three tranches on Monday, 8 July. The first auction was valued at EGP 3 billion, holding a tenor of two years until 2 July …
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7 July 09:13 AM CBE announces T-bills worth EGP 65bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 65 billion through two offerings on Sunday, 7 July. The first auction was valued at EGP 40 billion and will mature in 91 days on 8 …
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4 July 04:53 PM Mastercard, LuLu Group partner to foster sustainability in GCC’s retail payments
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, …
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4 July 01:48 PM Ebank’s EGM nods for capital hike, bonus share payment
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 …
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4 July 09:50 AM CBE unveils T-bills worth EGP 75bn on Thursday
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 …
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3 July 03:03 PM CBE withdraws over EGP 1trn liquidity from Egyptian banks
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 …
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1 July 03:59 PM Al Baraka Bank-Egypt provides Raya Information Technology with EGP 550m credit facilities
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 …
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1 July 12:29 PM Egypt records 1st foreign assets surplus in 28 months
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 …
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1 July 10:17 AM CBE offers EGP 8bn T-bonds on Monday
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, …
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30 June 03:32 PM Norton Rose Fulbright advises syndicate of lenders on $1bn loan to NBE
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 …
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30 June 03:19 PM EFG Hermes concludes advisory on EFG Corp-Solutions’ 1st short-term note issuance
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 …
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30 June 03:00 PM Egypt secures EUR 5bn financing from EU
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 …
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27 June 04:01 PM Newgen Software introduces personalised AI-powered platform for Middle Eastern banks
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 …
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27 June 11:15 AM FRA approves ADIB Egypt, e-finance’s capital hike
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 …
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27 June 10:23 AM CBE offers EGP 60bn T-bills on Thursday
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 …
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26 June 02:29 PM Egypt's Connect Money secures $8m in seed funding to expand in North Africa
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 …
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26 June 02:20 PM Mashreq Bank expands global footprint via partnership with Oracle
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 …
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25 June 11:15 AM CIB raises spending limits on FX credit cards
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 …
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24 June 12:51 PM QNB Alahli Egypt rebrands to QNB
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 …
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24 June 09:02 AM CBE auctions T-bills, T-bonds on Monday
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 …
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23 June 04:13 PM ADIB unveils strategic partnership with DIFC Innovation Hub for fintech growth in region
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 …