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29 January 11:40 PM

Banking

The loan will help Corplease to expand its operations
moments ago African Development Bank grants $22m loan to Egypt’s Corplease
Cairo – Mubasher: The African Development Bank (ADB) has granted $22 million loan to Egypt’s Corporate Leasing Company (Corplease), according to a bank statement released on Wednesday. The loan will help the company to expand its operations in the …
Companies Investments
The African Development Bank
04:25 PM AfDB approves $22m loan to Corplease
Cairo – Mubasher: The African Development Bank (AfDB) on Wednesday approved a $22 million senior loan to Egypt’s Corporate Leasing Company (Corplease). The loan will help Corplease expand its operations, and $7 million of the $22 million will to …
Banking and Finance
Burgan Bank expects the deal to improve the quality of its assets
28 January 09:51 AM Burgan Bank gets approval for selling stake in Bank of Baghdad
Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank’s 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding …
Banking and Finance
Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
Companies Investments
The EGP exchange rate climbed to EGP 15.86 for buying
14 January 11:39 AM Egyptian banks receive $1.7bn foreign cash inflows in 4 days
Cairo – Mubasher: foreign cash inflows into banks operating in Egypt reached $1.7 billion in just four days ending on Monday, 13 January, according to a statement by the Central Bank of Egypt (CBE). Such inflows have helped push the Egyptian pound …
Central Banks
The loan will be used to finance the establishment of the tunnel road in Sharm El-Sheikh
13 January 05:39 PM Egypt’s parliament approves KFAED’s loan, AfDB’s grant
Cairo – Mubasher: The Egyptian parliament approved a presidential decree for a second loan agreement worth KWD 26 million from Kuwait Fund for Arab Economic Development (KFAED), the Middle East News Agency (MENA) reported on Monday. The loan will …
Macroeconomics
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Companies Investments
Egypt aims to expand sanitation coverage to 60% throughout the country by 2030
17 December 2019 03:25 PM AfDB approves EUR 109m facility to improve sanitation coverage in Luxor
Cairo – Mubasher: The board of directors of the African Development Bank (AfDB) has given the greenlight for a EUR 109 million facility for improving sanitation coverage in rural areas in the Upper Egyptian governorate of Luxor. The Integrated …
Macroeconomics
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 2019 01:31 PM ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Blockchain is increasingly carving out the space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat expected to reshape the future of finance as many countries …
Event
Tribal Credit recently closed a $5.5 million Seed round
12 December 2019 00:04 PM How startups benefit from blockchain at Tribal Credit – Interview with Mohamed ElKasstawi
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups nowadays should look for new ways to boost their business, and one of these ways is using blockchain technologies and digital money. The US-based Tribal Credit, headquartered in Silicon …
Global Economy
Exchange companies registered profits of KWD 13.77 million by September
12 November 2019 00:43 PM Kuwaiti exchange companies’ profits down 4% in 9M
Mubasher: Foreign exchange companies in Kuwait saw a 4% decrease in net profits during the first nine months of the year, according to a statement by the Central Bank of Kuwait (CBK). Exchange companies registered profits of KWD 13.77 million …
Sector Reports
Hatem Sleiman, Regional Vice President - Middle East, Pakistan & Afghanistan, Western Union
31 October 2019 11:53 AM Sleiman in Interview – Western Union starting to leverage platform in new ways
Mubasher: Western Union, the US worldwide financial services and communications company, has enhanced the UAE with the latest generation of omni-channel platform in a way of confirming the deep commitment to keeping the Middle East at the …
Banking and Finance
Algorand’s ecosystem is now open to Islamic institutions using the platform
21 October 2019 04:10 PM Algorand’s blockchain platform certified for sharia financing
Mubasher: The Algorand Foundation announced on Monday the certification of its blockchain platform in compliance with sharia financing, according to the organisation’s press release. Algorand enlisted Bahrain’s Shariyah Review Bureau (SRB), …
Banking and Finance
The USD retreated to USD 16.18 for buying at AAIB
16 October 2019 04:46 PM USD edges down against EGP at banks on Wednesday
Cairo – Mubasher: The US exchange rate slightly fall against the Egyptian pound on Wednesday at several local banks. The USD went down by EGP 0.01 to EGP 16.18 for buying and EGP 16.28 for selling at the National Bank of Egypt (NBE) and Banque …
Banking and Finance
The USD dropped to EGP 16.24 for buying ADIB
15 October 2019 02:12 PM USD falls against EGP at banks on Tuesday
Cairo – Mubasher: The US dollar exchange rate has continued to slide against the Egyptian pound on Tuesday at several local banks.  The USD declined by EGP 0.03 to EGP 16.19 for buying and EGP 16.29 for selling at the National Bank of Egypt (NBE) …
Macroeconomics
The USD rate increased EGP 16.25 for buying at the United Bank
24 September 2019 04:54 PM EGP drops against USD on Tuesday at local banks
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate has risen against the Egyptian pound at some local banks on Tuesday. The USD rate grew by EGP 0.15 to EGP 16.39 for buying and EGP 16.49 for selling at the National Bank of Greece – …
Currencies
Bank Audi is listed on the Beirut Stock Exchange
22 August 2019 02:53 PM GGF invests $15m on EE and RE projects in Bank Audi
Mubasher: In line with its efforts to strengthen the lending portfolio in the areas of energy efficiency (EE) and renewable energy (RE), Green for Growth Fund (GGF) has recently invested $15 million in Lebanon’s biggest green lender, Bank Audi. …
Global Economy
A group of factors pushed up the bank’s profit
30 July 2019 04:43 PM Kuwait C. Bank’s profit soars in FY18/19
Mubasher: The Central Bank of Kuwait’s (CBK) profit jumped 88.22% year-on-year to KWD 212.13 million ($697.57 million) during the fiscal year 2018/2019, according to a statement released on Tuesday. A group of factors pushed up the bank’s profit, …
Macroeconomics
The grant will be directed to promote services provided to entrepreneurs
28 July 2019 05:47 PM AfDB supports entrepreneurship in Egypt with EGP 10m
Cairo – Mubasher: Egypt’s Ministry of Investment and International Cooperation signed a grant agreement worth EGP 10 million with the African Development Bank (AfDB) to support the ecosystem of entrepreneurship in Egypt as part of ‘Fekretak …
The USD has settled at EGP 16.56 for buying at AAIB
24 July 2019 10:37 AM USD stabilises against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Wednesday at some local banks.   The USD has stabilised at EGP 16.56 for buying and EGP 16.66 for selling at National Bank of Egypt (NBE), Banque Misr, …
Banking and Finance
The USD fell to EGP 16.58 for buying at ADIB
14 July 2019 04:13 PM USD falls against EGP on Sunday
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound during late trades on Sunday at some local banks.   The USD dropped by EGP 0.01 to EGP 16.56 for buying and EGP 16.66 for selling at Banque Misr, …
Currencies
The USD has stabilised at EGP 16.55 for buying at CIB
11 July 2019 10:54 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Thursday at some local banks.      The USD has remained unchanged at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), …
Banking and Finance
The CBK’s total assets grew 2.25% in May
10 July 2019 05:09 PM Kuwaiti C. Bank’s int’l assets hit $37bn in May
Mubasher: Foreign net assets of the Central Bank of Kuwait (CBK) increased by 1.44% year-on-year to KWD 11.25 billion ($37.06 billion) in May, the CBK’s data showed. On a monthly basis, the CBK’s foreign assets rose 0.54% from KWD 11.19 billion in …
Commodities
The USD has been steady at EGP 16.58 for buying at ADIB
10 July 2019 11:32 AM USD trades steady against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Wednesday at some local banks.     The USD has settled at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), Banque …
Currencies
The USD has settled at EGP 16.55 for buying at CIB
8 July 2019 11:06 AM USD trades steady against EGP early Monday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Monday at some local banks.       The USD has settled at EGP 16.58 for buying and EGP 16.68 for selling at National Bank of Egypt (NBE), Banque …
Banking and Finance