Tarek Amer, the governor of the Central Bank of Egypt (CBE), said that the CBE holds high hopes on Banque du Caire to support microenterprises, thanks to its experience in financing these projects. Banque du Caire was established in 1952 and is considered one of the largest banks in Egypt, ranking third in terms of the size of its business and the number of customers and branches. The report added that the bank managed to obtain a market share of 60% of the direct financing sector for owners of these projects. The bank has signed two contracts to finance microenterprises, in cooperation with the social development fund, worth EGP 334m. According to Soha Ismail, the deputy chairperson of the bank, the bank pays great attention to these projects and has lots of experience in them.

Source: Daily News Egypt May 28, 2017 10:07 UTC