Bank merger underway in Egypt

Published June 29th, 2001 - 02:00 GMT

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 (

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