Egypt’s CIS, Export Development Bank renews credit insurance cover deal for loans

By Eslam Abdelhameed On May 6, 2020

Hossam Abdel Aziz , chairman of the Cooperative Insurance Society (CIS)

Egypt’s Cooperative Insurance Society (CIS) has renewed a loan insurance cover agreement with the Export Development Bank of Egypt, announced CIS chairman on Wednesday.

According to the deal, CIS will cover loans and financing for small-sized enterprises granted to the bank’s clients against the dangers of credit and non-payment, Hossam Abdel Aziz further told Amwal Al Ghad.

Moreover, CIS has posted premium portfolio up to around 57.5 million Egyptian pounds ($3.6 million) during the third quarter of the current financial year 2019/2020.

Export Development Bank of Egypt Hossam Abdel Aziz