• 20:52
  • Wednesday ,19 December 2018
العربية

Central Bank of Egypt mulls re-opening door for licensing international banks branches

By-Ahram

Home News

00:12

Wednesday ,19 December 2018

Central Bank of Egypt mulls re-opening door for licensing international banks branches
The Central Bank of Egypt board is mulling re-opening the door for licensing international banks  branches to join the Egyptian market in the coming period.
 
An official source from CBE told MENA Tuesday that the step will promote confidence in the Egyptian economy and the banking sector and contribute to boosting the sector s competitiveness.
 
The source noted that a number of international banks filed requests to join the Egyptian market.
 
He added that this will create a larger database of clients in the banking sector, especially in light of the huge network of relations which international banks have with heavyweight international investors, companies and institutions.