Bank merger underway in Egypt
The Egyptian government is expected to approve a new plan in the near future merging numerous banks and establishing various non-banking financial institutions in Egypt. These institutions will provide medium and long term financing services, according to Al-Hayat daily.
Prime Minister Atef Obeid met on June 17 with representatives of the banks and made plans to establish a committee, which would assess merger structures. –(MENA Report)
© 2001 Mena Report (www.menareport.com)