NO. 46


Financial and Banking News

Economic Policy

Banque Misr to Manage Bank of Credit and Commerce Egypt Claims

The Egyptian Government has decided in principle to give the state-ownedBanque Misr the task of implementing a bail-out plan for depositors of Bank ofCredit and Commerce - Egypt (BCCE). Banque Misr will be solely responsible forreimbursing E1,400mn ($424mn) owed to BCCE's 17,000 depositors. The CentralBank has made a E1bn loan available at zero interest to BCCE....