Financial and Banking News

REGIONAL BANKING

Egypt's Export Bank Opens for Business 

The new Egyptian Export Development Bank, which was set up in 1983 with an authorized capital of Eœ100mn, issued capital of E£50mn, and a paid-up capital of E£25mn, opened for business on 3 February. According to the bank's Chairman, Dr. Hazim el-Biblawi, the new bank will initially concentrate on trade financing, but will at the same time consider requests for project...