EGYPT: BANQUE MISR TO SIGN A 150B USD LOAN WITH ABU DHABI ISLAMIC BANK.

Banque Misr in Eqypt has announced plans to sign a loan with Abu Dhabi Islamic Bank-Egypt (ADIB) to aid the Banque Misr in strengthening is financial status and dollar liquidity. The loan which is estimated to be worth 150 million USD is expected to be signed off during the second quarter of the 2016/2017 financial year.

Banque Misr, which is one of the country’s largest state-owned lender credit facilities of about 1 billion USD with Industrial and Commercial Bank of China (ICBC), and Chinese Export and Credit Insurance Corporation Company to guarantee exports. Egypt has been increasing its corporation with international financial institutions, and Banque Misr is working in that regards.

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