NO. 3


Financial and Banking News

Regional Banking

Major Egyptian Investment Companies Forced to Close

Eight Islamic investment companies in Egypt have been denied permission to belegally reconstituted under the terms of the Deposit Taking Companies Law. About79,000 depositors with funds totalling E656.7mn are affected by recent rulingsfrom the Capital Markets Authority (CMA). Among this group are three of the mostprominent companies involved in the business, namely Al...