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Islamic Finance Briefing - Categorized | Banking, Funds, Investment, Market Moves more

Egyptian Saudi Finance Bank flexes its muscle

Posted on 05 May 2009

From Cpifinancial.net: The Egyptian Saudi Finance Bank announced that it has allocated EGP 1.5 billion ($266.4 million) to EGP 2 billion ($355.2 million) to finance strategic projects in Egypt. It also confirmed its readiness to fund banks affected by the economic downturn with liquidity.

In an interview with CNBC Arabiya, Ashraf El Gamrawy, Managing Director of the Egyptian Saudi Finance Bank, said that these feasible projects, especially infrastructure projects, will maintain the targeted growth rates by end of 2009, estimated between 12 and 15 per cent…….Full Article: Source

 
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