Fitch upgraded its rating on the Government of Egypt by one notch to B+ on 21 March, one notch higher than S&P and two higher than Moody's.
Contact list for Egyptian banks' management teams
We are grateful to one of our Corporate Members for sharing with us a contact list for senior managers, including Chairmen, at 30 Egyptian banks. The list is attached below. We are publishing this in a spirit of helpfulness and make no representations as to the list's accuracy. Although the list was compiled at the end of 2017, it is possible that some positions have now changed.
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The World Gold Council has published an interesting research note on gold and Islamic finance, including a survey of investor attitudes to different types of gold products.
Our CEO, George Kanaan and Editor, Andrew Cunningham were in Cairo from 18-21 March to strengthen the Association's links with the Egyptian banking sector. Read more for details on the visit and the topics discussed.
Mazin Manna has taken over as CEO of Abu Dhabi Islamic Bank. The bank had been operating with an acting-CEO after Tirad Murad, who previously held the post, had to take medical leave.
The IMF has disbursed another $2bn to Egypt, following a successful review of Egypt's progress under the Extended Fund Facility agreed in 2016. The Facility will end in November this year, hopefully with the disbursement of the final $2bn, to make a total of $12bn disbursed under the programme.