CBE receives requests from int’l banks to operate in Egypt

The Central Bank of Egypt (CBE) has received requests from international banks to operate in the country, CBE deputy governor Gamal Negm said Saturday 30/03/2019.

Negm’s remarks came during the activities of the first session of heads of risk management departments in the Arab banks road to Basel 4 forum, organized by the Union of Arab Banks in Alexandria.

The banking sector represents 85 percent of the financial sector in Egypt, Negm said, adding the new banks law came to keep pace with global financial developments.

In the meantime, member of the Union of Arab Banks board Tarek Fayed praised the Egyptian financial sector, saying it could absorb any shocks because of its resilience and its proactive approaches.

Source: State Information Service Egypt