Egypt moves to clear financial overlaps between Egypt Post, NIB

Egypt’s Prime Minister Moustafa Madbouly led a high-level meeting on Sunday to accelerate efforts to resolve long-standing financial entanglements between Egypt Post and the National Investment Bank (NIB).

The meeting, attended by Planning Minister Rania Al-Mashat, Communications Minister Amr Talaat, Finance Minister Ahmed Kouchouk, Egypt Post Chairperson Dalia El-Baz, and NIB Managing Director Ashraf Negm, focused on implementing measures to untangle financial obligations and enhance fiscal efficiency across government entities.

Prime Minister Madbouly reaffirmed the government’s commitment to eliminating financial interdependencies among state institutions, describing the initiative as a critical step toward economic reform. He emphasised that resolving these issues will strengthen the financial position of state agencies, allowing them to operate more effectively and contribute to economic growth.

The move is a critical component of the government’s broader economic reform strategy, aimed at eliminating financial interdependencies among state institutions, said Prime Minister Madbouly. He emphasised that resolving these disputes will strengthen the financial positions of state agencies, enabling them to operate more efficiently and contribute effectively to economic growth.

The primary focus of the meeting was the review and finalisation of a new cooperation protocol between Egypt Post and the NIB. Both parties have agreed to sign the protocol, marking a significant milestone in settling years of accumulated financial disputes.

The government has been actively addressing financial overlaps between state bodies as part of its broader strategy to enhance economic stability and optimise public sector performance.

Attribution: Amwal Al Ghad English