Egypt's move to freely float the local currency will allow all 39 banks licenced in the country to trade foreign exchange and unlock pent-up foreign investment, according to Chairman of Commercial International Bank (CIB), Hisham Ezz al-Arab. Ezz al-Arab attended a high-level meeting with the Central Bank of Egypt (CBE) shortly after the flotation was announced, he told Reuters that the CBE had encouraged banks at the meeting to waive commissions on remittances into the country to allow flows to return to the banking system, a move welcomed by CIB. (Reuters, Amwal Al Ghad)   CIB: EGP55.16 as of 03 November 2016, Rating: Buy, FV: EGP46.38 per share, MCap: USD4,454mn, COMI EY / COMI.CA