Financial and Banking News
Most Egyptian Banks Fail Capital Adequacy Test
Only 20 of Egypt's 101 commercial banks have sufficient capital to meet theBasle capital adequacy guidelines, according to an Egyptian Central Bankofficial, quoted in the Arabic daily Al-Hayat. Banks are supposed to be able toadhere to the guidelines by the end of the year. The Central Bank official saidthat liquidations would not occur, but that mergers would be possible and...