United Bank Mulls Launch Of 2 Mutual Funds for SMEs At EGP200 Mln

Mohamed Ashmawy, chairman of United Bank, announced that his bank is studying the launch of 2 investment funds for Small and Medium Enterprises with a capital of EGP 200 million, noting that the capital volume can be further increased.

Mr. Ashmawy, in an exclusive statement to Amwal Al Ghad, explained that the 2 investment funds are designated to the agricultural and industrial SMEs investments, whereas the capital of each fund worth EGP 100 million.

The United Bank Chairman stressed the importance of focusing on SMEs in the light of their capabilities to reduce unemployment.