Egypt’s c. bank eyes closer financial ties with China’s ICBC

Egypt’s central bank governor Hassan Abdalla met with the President of the Industrial and Commercial Bank of China (ICBC) Liu Jun to discuss cooperation in economic, financial, and trade sectors, as per a Cabinet statement.

They also discussed the possibility of an ICBC presence in Egypt, whether through a branch or a full-fledged bank, given the Egyptian market’s attractive investment environment across all sectors, particularly the resilience of the banking sector.

Abdalla highlighted the strong Chinese-Egyptian strategic relations as a key pillar for economic cooperation. He also emphasised the CBE’s commitment to fostering mutual cooperation within the comprehensive bilateral framework.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama