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FINANCIAL NEWS
Egypt to discuss USD2bn loan from KSA, UAE
11 Aug 2016
(MENAFN) Egypt is in talks with Saudi Arabia and the UAE for USD2bn loan in new funding, which will be shared between the Gulf Arab States amid the coming 4 weeks.
Furthermore, the Egyptian government aims to speed up the process of receiving the Gulf deposits to start applying the economic reform program.
In addition, the program involves cutting the Egyptian pound value against the dollar, which would ease getting the IMF loan.
Meanwhile, the country is recently in talks with the IMF regarding an USD12bn three-year lending program and will pass value-added tax legislation.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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