VOL. XLV

No 32

12-August-2002

EGYPT

Al-WatanyBank Of Egypt Plans To Offer $108Mn Worth Of Bonds

Following approval in anextraordinary general assembly last week, Al-WatanyBank of Egypt (AWB) plans to offer E500mn ($108mn) worth of bonds with afive-year maturity, although the banks board of directors have yet to set thebond terms and date of issuance. The bond proceeds will be used to finance gasand tourism projects and increase AWBs retailservices including issuance of personal loans and credit...