Mohandes, Egypt’s NBE bank sign credit insurance cover deal for SME loans

By Yomna Yasser On Oct 30, 2017

The National Bank of Egypt (NBE), the country’s largest public lender,

Egypt’s Mohandes Insurance Company has signed Monday a credit insurance cover agreement with the country’s largest state-run lender, the National Bank of Egypt.

Under the agreement, Mohandes will cover the risk of non-payment of NBE’s loans for the small and medium-sized enterprises.

The Egyptian insurer is committed to provide NBE with compensation in the event of a payment default by a borrower under a loan, said its chairman Reda Fathy on the sidelines of signing the agreement.