amwalalghad :: Financial Institutions

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Business - Financial Institutions

Islam Abdelhameed - 2014-06-18 12:27:13
Banque Du Caire is set to receive subscriptions on Arab Misr Insurance Group (GIG)'s second mutual fund, said head of investment sector at GIG Mohamed Nagah Nour. This comes after GIG signed an agreement with Banque Du Caire on Wednesday. GIG plans to launch its second mutual fund within the upcoming period, with capitalisation worth EGP 100 million, he noted. Prime Holding will manage GIG's second mutual fund, he added. About the new mutual fund, Nour told Amwal Al Ghad it is a low-risk daily cumulative return fund that will invest in treasury bonds, treasury bills, deposits and private investment funds. Moreover, Nour told Amwal Al Ghad that GIG has obtained the Egyptian Financial Supervisory Authority (EFSA)'s approval to launch its second launch. GIG had issued its first mutual fund in 1995, namely AMIG. More»
Islam Abd ElHameed & Al Zahraa Moustafa - 2014-06-17 15:57:56
The credit rating of the African Reinsurance Corporation (Africa Re) is expected to be raised to "A" within the upcoming phase, said Managing director Corneille Karekezi on Tuesday. Karekezi has made his forecasts after A.M. Best Europe – Rating Services Limited had recently affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Africa Re. On the sidelines of a press conference held today in Cairo, Karekezi revealed that Africa Re will be issuing a number vital decisions within the coming phase which will represent a great 'leap' in the African insurance market. The African official has further expressed his sincere gratitude that Cairo will be hosting the Corporation's 36th Annual Ordinary Meeting by the end of this week. Egypt will be hosting the 36th Annual Ordinary Meeting of the African Reinsurance Corporation (Africa Re)'s General Assembly on June 19th. The corporation used to hold its Annual General Assembly Meeting in a member country and the opening ceremonies of these meetings usually presides by the countries presidents or governors as a kind of support to this regional project and to crown her role in the growth of Africa. The African Reinsurance Corporation is an international financial institution comprising 41 member countries of the African Union and Development Finance Institutions , as well as the about 100 insurance and reinsurance companies operating in member countries and IRB- Brasil Re. More»
Amwal Al Ghad English - 2014-06-17 10:09:13
The International Finance Corporation (IFC)'s total investments in Egypt recorded US$1 billion, including US$300 million directed for providing services, focusing on technological and financial industries as well as developing infrastructure within the upcoming period, said IFC regional director Nada Shousha. In Egypt, the number of citizens who have bank accounts hit 10 million, compared to more than 50 million citizens with no bank accounts yet, she noted. Yet, there are more than 90 million cellular subscribers in the North African country. This in return requires a sustainable cooperation between banks and mobile operators to work on increasing more citizens to get bank accounts and have access to entire financial services in Egypt. In a keynote speech at Fawry's 1st financial inclusion conference, Shousha referred that greater inclusion to financial and governmental services in Egypt requires providing more services to include all the segments of society. Moreover, she noted that World Bank is working with banks, micro and IT enterprises, with the aim of reaching greater inclusion to financial and governmental services in Egypt. IFC seeks to provide the necessary assistance to boost the country's infrastructure, she added, elaborating that the institution has pumped multi-billion in aids to Egypt. More»
Islam Abdelhameed - 2014-06-16 14:03:56
Gras Savoye Egypt – Insurance Broker plans to open up its new branch in the Arab region, in Kuwait next month, said managing director Hamed Mabrouk on Monday. According to Mabrouk, Gras Savoye Egypt's upcoming branch in Kuwait would the third in the region after inaugurating two offices in the Sudan and Jordan. Kuwait is one of the most promising insurance markets in the region, he added. He further referred that Egyptian insurance activities have great presence in Kuwaiti market; therefore, establishing an Egyptian insurance broker in Kuwait was pivotal. Moreover, Mabrouk stated that Gras Savoye Egypt has completed all the required regulatory procedures with the Libyan Insurance Supervision Authority to inaugurate its branch in Libya. However, he added that the inauguration of its branch in Libya is linked to the country's political and economic stability. Elsewhere, Mabrouk referred that the parent company Gras Savoye has recently made new expansions in the Eastern Europe in the light of opening up branches in Croatia, Serbia, and Georgia. More»
Alzahraa Mostafa - 2014-06-16 07:44:32
Arab Orient Takaful Insurance has inaugurated new subsidiary in Masr El Gedida 'Heliopolis' for customers services, Mohamed Abdel Gawad - Managing Director said. Arab Orient has 4 branches in Alexandria, El Mohandeseen, Hurghada and Port Said. The company has recently opened new branch in Port Said for serving all its customers, stressing that the political turmoil which experienced by Egypt in the recent period leads to postponing the branch many times, Abdel Gawad added. Meanwhile, Arab Orient attained EGP197 million insurance premiums within the first 9 months of the fiscal year 2013/2014, against EGP152 million in the previous FY, move up by 29.6% growth rate. More»
Mohamed Hamdy - 2014-06-16 07:23:14
Egypt's Social Fund for Development (SFD) is currently holding talks with 3 international financial institutions over obtaining loans and grants at value of $85 million. The targeted loans and grants will be directed for the small-sized and community-based projects besides developing the non-financial businesses. SFD's Director General Hanaa El Hilaly revealed to Amwal Al Ghad that the fund is in final phase of talks with the Kuwait Fund for Arab Economic Development (KFAED) over an US$50 million loan designated for small projects. This comes in addition to ongoing negotiations with the Canadian International Development Agency (CIDA) over US$10 million grant directed for the SFD's non-financial businesses, she noted. The Egyptian official further referred that SFD Egypt will be obtaining soon a grant worth US$25 million from the U.S. Agency for International Development. Moreover, SFD Egypt has recently obtained the government's approval to obtain a new loan at value of US$300 million from the World Bank, designated for the small and micro-sized projects. Since inception in 1992 until 2013-end, SFD Egypt contributed more than EGP20 billion to the national economy. More»
Maha Essam - 2014-06-15 12:29:26
Egyptian General Supervisory Authority (EFSA) Chairman Sherif Samy said the granted mortgage from mortgage finance firms boosted to EGP4.4 billion at the end of last March, move up by EGP441 million in compared to the previous period, adding that the total amounts of mortgage finance up EGP2.3 billion. The number of beneficial investors from mortgage finance reached 34.3%, Samy added while the number of firms which operating in mortgage finance sector are 12 in addition one refinancing company with EGP1.65 billion paid up capital, Samy explained. Greater Cairo governorates seized the major proportion from the mortage finance with 69%, Samy noted. More»
Islam Abdelhameed - 2014-06-15 11:11:16
Managing Director of Misr Insurance Company Adel Moussa said his company is planning launching mutual fund with initial capital up EGP100 million by the end of the current month. Speaking to Amwal Al Ghad Arabic's Website, Moussa explained that it is targeting to boost the size of fund to EGP250 million, noting that the fund will be managed by Belton Financial Group. The launch of fund has delayed till the political and economic stability of the Egyptian market despite its adoption from the Egyptian General Supervisory Authority (EFSA), Moussa illustrated. He expected that these funds will have highly demand from the insurance firms by the upcoming period. Moreover, he stressed that the decision of the Central Bank of Egypt (CBE) for reducing the bank's contribution in the funds to 2% instead of 5% has opened opportunities inside the financial institutions to launch mutual funds. More»
Islam Abdelhameed - 2014-06-14 13:30:05
Egyptian Life Takaful Insurance Company awaits the approval of the Central Bank of Egypt (CBE) in order to start activating banking insurance protocols which concluded with 3 banks within the recent period, Hesham Abdel Shakour, Managing Director said. Abdel Shakour spoke to Amwal Al Ghad explaining that these banks have selected according to the numbers of its clients. Takaful plans offering new 5 insurance products via the bank's branches and in accordance with 'banking insurance', noting that these policies will allure new categories of clients, Abdel Shakour noted. The company intends expanding in its products within the upcoming phase especially in micro insurance policies so as to meet with the citizens' demands. More»
Islam Abdelhameed - 2014-06-14 10:27:28
Royal Insurance Egypt's shareholders approved during general assembly meeting to found mutual fund, with an initial capitalization worth EGP50 million, Hassan Darwish , Vice Chairman & Managing Director. Speaking to Amwal Al Ghad Arabic's Website, Darwish explained that Royal plans to finalise the measures of establishing its mutual fund. Royal intends issuing mutual funds for cash liquidity that aims provide saving and investment pots, Darwish added. Moreover, The company is still in talks with two banks in order to conclude cooperation agreements, expecting to sign cooperation protocol with one of the banks by the upcoming few months so as to contribute in boosting the targeted premiums and its strategic plans. More»