The vulnerable nature of most North African economies has made it an attractive market for many Gulf lenders. The mission to enter into the Egyptian market became more aggressive in 2013 when the lenders began to capitalise on the political upheaval and uncertainties in the country. One critical aspect of the Egyptian economy that makes it attractive for Gulf lenders is the fact that the market has a handful of financial institutions controlling it. Also, Egypt’s net interest margin can account for why Gulf lenders are scrambling for its market. The positive side with these moves by Gulf lenders into the Egyptian market is that people would now have more access to financial services.

Source: The North Africa Journal September 08, 2020 16:07 UTC