Egypt’s Future of Egypt strikes wheat deal with French suppliers
Egypt’s state grains buyer Future of Egypt agreed in April to purchase around 180,000 metric tons of French wheat…
Browsing Tag
Letters of Credit
Egypt released imports worth $1.2 billion last week – PM
Egypt has released shipments of about $1.2 billion from 24 to 30 December, as part to resolve the imports backlog…
Egypt to gradually repeal letters of credit system for imports
The Central Bank of Egypt (CBE) announced on Thursday that it would begin the process of gradually repealing the…
Egyptian banks have provided $55.1 bln to fund trade since pound float
Egyptian banks have provided around $55.1 billion to fund trade since the country floated its currency in early…
Egypt provided $121 mln in emergency funding to GASC in May: MoF
Egypt's Finance Ministry announced in a statement on Saturday that it has provided the state grains buyer GASC with…
Egypt’s foreign trade reach $35 billion since currency float: official
Egypt’s foreign trade since early November, when the government floated the country’s pound until May 25 reached…
Afreximbank secures $1 billion facility for Egyptian institutions
The African Export-Import Bank (Afreximbank) has secured more than $1 billion worth of indirect credit facilities…
Banque Misr raises $1.020 billion after Egypt pound float – official
Egypt’s second biggest bank, state-owned Banque Misr has collected $1.020 billion since Nov 3 local currency…
Banque Misr raises $900 million since Egyptian pound float move – official
Egypt’s second biggest bank, state-owned Banque Misr has collected $900 million since Nov.3 decision to freely…
Egypt’s NBE bank sold $220 mln in week to cover imports – v.chairman
Egypt’s biggest lender, the state-owned National Bank of Egypt, provided around $220 million to cover import…
Banque Du Caire says to inject $169 mln in SME projects this year
Egypt’s third biggest public lender Banque du Caire plans to inject 1.5 billion Egyptian pounds ($169 million) into…
Bank Audi-Egypt, EIB, EBRD start dollar liquidity talks
Bank Audi SAE, the eighth largest commercial bank in Egypt, is in ongoing talks with some European banks to secure…
AAIB acquires Canada Scotiabank’s Credit Portfolio in Egypt
The Arab African International Bank (AAIB), an international bank based in Egypt, has recently completed its…
Ahli United Bank Grants EGP15bn Letters of Credit in 10 Months
In 10 months, Ahli United Bank (AUB) granted an EGP14-15 billion worth of letters of credit to support Egypt’s…
Alhi United Bank Eyes to Open EGP10bln Letters of Credit for 2 Sectors
Alhi United Bank (AUB) is aiming to open letters of Credit worth EGP10 billion in petroleum and food sectors…
Ahli United Bank Opens EGP1.5bn Letters of Credit for Petroleum Sector
Ahli United Bank (AUB) has opened letters of credit worth EGP1.5 billion within the first 8 months of the current…
Ahli United Bank Opens EGP100 Letters of Credit for Food Companies
Ahli United Bank - Egypt approved to open letters of credit worth EGP 100 million in favour of local food firms…
Ahli United Bank Opens US$120mn Letters of Credit for Petroleum Products
Ahli United Bank approved opening EGP120million letters of credit in favor of Petroleum Company so as to export the…
Banque Du Caire Grants EGP512.6 million Letters of Credit by April-end
Banque Du Cairo's grants for the country's sectors in forms of letters of credit (L/Cs) hit EGP 512 million by the…
NBE Grants EGP200mn Islamic Finance for a Company Working in Industry Sector
The National Bank of Egypt (NBE) announced a new Sharia-compliant loan agreement worth EGP 200 million ($28.7…
EBRD Lends $50mn to National Bank of Egypt to Support Int’l Trade
The European Bank for Reconstruction and Development (EBRD) signed on Wednesday two agreements to provide a US$50…
Banque Du Caire Granted Letters of Credit worth $2bn in 2013
Banque Du Cairo issued around 11.000 letters of credit totaled US $ 2 billion during 2013 for a number of the…
In 7 Months, NBE Granted EGPC LCs Totaled $693 mln
The National Bank of Egypt (NBE) granted over the last 7 months the state-owned Egyptian General Petroleum…
Food Sector Captures Lion’s Share of AUB’s Total Letters of Credit in 2013
During 2013, Ahli United Bank (AUB) has opened letters of credit in the amount of US $ 2 billion in favor of the…
AUB Opens $1 bln Letters of Credit for Petroleum Sector
The total letters of credit, which the Ahli United Bank (AUB) opened for petroleum sector reached about $1 billion…
IDBE’s Total SME Finance Portfolio Hit EGP520 by Oct-end
The Industrial Development and Workers Bank of Egypt (IDWB) said on Monday its SME direct and indirect finance…
Banque Du Caire Says Letters of Credit Surged by $413 mln Sept-End
Letters of Credit numbers which issued by Banque Du Caire have reached around 280 worth $413 million at the end…
National Bank Of Egypt Provides US$ 65MLN To Import Fuel
A representative from the National Bank of Egypt stated on Monday that the bank had agreed to provide $65m (EGP…
Ahli United Bank Issued LCs And LGs Worth EGP 4.3 Bln During Jan-Feb
Ahli United Bank issued letters of credit and guarantee worth EGP 4.357 billion in January and February. Sources…
US Dollar Hikes EGP 0.4 In Week, Differing Views On CBE’s Intervention
A number of exchange market experts asserted that the U.S. dollar has recorded an increase in a week ranging…