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Banks pose new restrictions to confront saving certificates leveraging scheme

A number of banks in Egypt have developed new restrictions for granting loans guaranteed by deposits, both short-term deposits and saving certificates. This aims to put an end to the phenomenon—also known as leveraging—that swept through banks in the past few days. Over the week, banks have noticed an increase in appetite from customers to …

Hossam Mounir

Pardon me CBE, it is none of your business

I was surprised and very distressed after reading about the resolution issued by the Central Bank of Egypt (CBE) last weekend setting a maximum of nine years, consecutive or otherwise, for CEOs to maintain their position at banks. If this period is exceeded, the CEO will continue until the adoption of the annual financial statements …

Hany Aboul Fotouh