Egypt’s second biggest bank, state-owned Banque Misr has collected USD1.020bn since 3 November local currency flotation move, Vice Chairman, Akef El Maghraby, said on Tuesday. The amount includes remittances from expatriate Egyptians, clients selling USD, and deposits in foreign currencies, he added. The bank has opened letters of credit worth cUSD2.050bn to meet import payments since pound float move and has received cEGP86bn (cUSD4.7bn) from high-yielding certificates of deposit it had started offering since then. (Amwal Al Ghad)
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.