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Latest in Tag: financing


The role of Middle East banks in fighting terrorism financing

In the war against terrorism, it’s not just government agencies and military personnel who are on the front lines. Bankers can also play an important role in fighting terrorism. That’s because terrorism needs money to survive and thrive. Although terrorists are increasingly using alternative financial methods, the banking system continues to be the most reliable …

Mohamed Elbanna

Metropolitan Egypt

Metropolitan Egypt negotiates with bank to secure financing for 3 companies

Metropolitan Egypt is negotiating with a number of banks to provide financing worth EGP 14m to three companies working in chemicals, medical devices, and contracting, according to company head Khaled Nagaty. Yasser Kamal, credit supervisor at Metropolitan Egypt, said that ProPlan Contracting needs financing of EGP 5m, in addition to letters of guarantee worth EGP …

Hossam Mounir

US dollar shortage negatively affects banks financing import operations, lending to projects with a foreign component

The US dollar shortage has negatively affected banks’ activities that are related to financing imports and lending to projects that include a foreign component, according to Amr Tantawy, managing director of Misr Iran Development Bank (MIDB) and board member of the Federation of Egyptian Banks’ (FEB) board of directors. Tantawy told Daily News Egypt that banks’ activities are divided between local and foreign trading …

Hossam Mounir

Fat-cat charities and terrorist financing

Charities were originally formed to provide aid to those less fortunate than ourselves; most are indeed legitimate channels to help people in need. However, some charities are fraudulent, created to take advantage of the needy and the generous. Some charities have been used as a cover for money laundering or financing terrorists. It is estimated …

Hany Aboul Fotouh

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