CEO of Arab Banking Corporation – Egypt (ABC-Egypt) Akram Tinawi said that 2017 is the year in which Egypt will reap the fruits of economic reforms, despite the challenging situation for banks in Egypt. He explained that many bold reform measures were taken in 2016, including the flotation of the Egyptian pound. “In short, we have taken serious steps toward reform, and we should reap their fruits in the coming period,” he stressed. Moreover, he said that reaching a fair trade price for hard currency is a major challenge facing the banking sector in 2017. This preparation included boosting geographical expansion in Upper Egypt and the Delta and designing SMEs-oriented banking products to help them grow and continue.

Source: Daily News Egypt January 21, 2017 16:54 UTC