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Government attracts funding originally allocated for SMEs

By Nasser Youssef The government’s expansion of high interest bonds and treasury bills led to a decrease in financing for small and medium sized enterprises (SMEs), the support of which the state claimed to be the primary goal of the post revolution government. The state resorted to the banking system in order to close the …

Daily News Egypt

Banking experts meet Morsy to expose sector’s corruption

By Mahmoud Salah El-Din Bankers, members of the group Central Accounting Apparatus Observers Against Corruption (CAAOAC), and President Mohamed Morsy will hold a meeting within days in order to discuss corruption in the banking sector. Bankers and members of the CAAOAC will deliver a memorandum to the President that contains a Central Accounting Apparatus’ (CAA) …

Daily News Egypt

Throughout 2012, Egypt’s Social Fund for Development (SFD) signed a number of contracts with foreign countries totalling $418m. (Photo: Courtesy of Facebook Fan Page)

Microfinance goes commercial

Microfinance, the provision of loans and other financial services involving minute transaction amounts and mainly poor clientele, is making inroads into commercial banking.

Daily News Egypt

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