The Central Bank of Egypt (CBE) finished preparing a draft law to update the CBE and the Banking System Law No. Amer had met on Tuesday evening with leaders of banks operating in Egypt, along with the senior officials of the CBE. During the meeting, Amer noted that the role played by the banking sector to implement the CBE decision had a great impact on restoring the confidence in the banking sector. He stressed that the Egyptian banking sector is full of expertise and capacities that enable it to fulfill its role. In this regard, chairperson of the Arab African International Bank Hassan Abdalla suggested offering banks incentives to build branches there and attract international banks.

Source: Daily News Egypt May 17, 2017 16:41 UTC