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FINANCIAL NEWS
Saudi Arabia grants Egypt USD2b aid
22 Jul 2013
(MENAFN) As part of a USD12 billion Gulf aid to Egypt, Saudi Arabia has sent USD2 billion, to help the cash-strapped economy, after the removal of Islamist President Mohamed Mursi, Reuters reported.
Central bank governor Hisham Ramez said the USD2 billion of Saudi funds arrived in the form of a five-year interest-free deposit at the bank.
The bank recently got USD3 billion aid from the UAE, USD2 billion of which was a cash deposit and USD1 billion an outright grant.
Saudi Arabia has promised another USD2 billion in energy products and USD1 billion in cash, while Kuwait has promised USD4 billion.
More News
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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