Egypt’s Banks Contribute with EGP1bn for Community Development: FEB

Federation of Egyptian Banks(FEB) Chairman and Managing Director Hisham Ezz El-Arab said banks which operating in the Egyptian market have a great role in community development field, most of these banks contributed in health and education sectors.

The total value of services which submitted by banks in favor of society reached EGP1 billion since 2011 and till now and this is a great record as within the 3 years, Egypt experienced by instability of political and economic situations.

FEB agreed with banks to allocate 2% from the banks’ profits in community development through cooperating with Local Development Ministry for slums.

Banks denoted EGP300 million till now in favor of slums projects; most of banks which operating in the Egyptian market take part in this project.