Feb 15; Final Deadline to Receive Banking Bids for Egypt’s Tourism Fund

Karim Helal, an adviser to Egypt’s Tourism Minister said the Ministry will receive all the applications for investment banks by the next mid of February as a final deadline in the tender of Tourism Development Fund sector which schedule for its capital to reach EGP2 billion at maximum.

Helal has informed Amwal Al Ghad in an exclusive that the final result of the tender will be by the end of February in order to choose one of the submitted investment banks which reached 11 banks, pointing out that the Ministry didn’t determine its share that will participate in the fund.

The fund’s board of directors requested to identify some points inside the banks in the session gathered by the representative of the Central Bank of Egypt (CBE) and the Economic Commission members of the Egyptian Federation of Tourist Chambers on Monday.

The investment banks represent EFG-Hermes, CI Capital Holding, Beltone Financial, El Kahera El Watania Investment, Naeem Holding Company, Arab African International Bank, Al Ahly Capital Holding, Prime Holding SAE (PRMH)-Financial Service, HC Securities and Investment and Union Capital.