VOL. XLII

No 41

11-October-1999

EGYPT

IFC Takes A 10% Stake In Egypt痴 HCSI Bank

The International Finance Corporation (IFC) announced on 30September that it had signed an agreement to invest in HC Securities andInvestment (HCSI), a full-service investment bank in Egypt. According to astatement from the organization, the investment will give the IFC a 10% equitystake in the bank, which was established in 1996. Other stakeholders in thebank include Morgan Stanley Middle East Inc., an affiliate of...