NBE Suggests Setting Up Microfinance Bank: Sherif Gamea

The Federation of Egyptian Banks’ technical committee will discuss the possibility of establishing a microfinance bank next Wednesday, said Sherif Gamea, general executive manager of FEB.

The National Bank of Egypt (NBE) is the one that suggests the idea of setting up a bank that finance micro-enterprises as well as the poor which will be similar to the Grameen microfinance bank in Bangladesh, he elaborated.

The technical committee will submit the recommendations to FEB in order to be studied, he added.

The Governor of the Central Bank of Egypt (CBE), Hisham Ramez, has revealed to Amwal Al Ghad that the federation will meet next June to discuss the possible methods of financing micro-enterprises.