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FINANCIAL NEWS
Saudi Arabia deposits USD2bn in Egypt
14 Oct 2016
(MENAFN) Egypt market surged as local investors welcomed news that KSA had deposited USD2bn in the Egyptian central bank.
Moreover, global Telecom soared 11.6 percent to 5.20 Egyptian pounds, while investment bank EFG Hermes jumped by 4.4 percent.
Accordingly, the deposit had been received in Sep and involved foreign reserves total, which reached USD19.6bn.
The deposit also eased fears that Saudi Arabia might be withdrawing its fiscal support to Egypt.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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