amwalalghad :: Financial Institutions

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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

Sayed Badr - 2014-10-15 12:10:51
The World Association for Small Medium Enterprises (WASME) will establish its Middle East Regional Office in Cairo, WASME’s newly-named vice president Khaled Nagaty said. During a press conference held on Wednesday on the occasion of winning the new WASME vice president post, Nagaty announced that the WASME’s board of directors approved to establish their MENA regional office in Cairo. The board has also outlined a new strategy, designated to develop small and medium-sized enterprises, notably in countries that went through political crises, such as Egypt, Nagaty noted. Furthermore, the Egyptian official said Egypt will host WASME’s Annual Conference in 2015, instead of Kenya. Through the conference, WASME is aiming to play a crucial role in supporting the SME sector in the Middle East and North Africa region against various. WASME – a global non-governmental organization headquartered at Noida, India – has been spearheading the cause and development of Small and Medium Enterprises (SMEs) world over since its inception in 1980. It has emerged, over the years, as one of the most representative, effective and leading international organisations, working towards the promotion of SMEs. The vision behind establishment of WASME was to build a world private community of small business, their supporting and financial institutions as a non-governmental organization, not influenced by any government(s). WASME has members, associates and network partners in different countries across the world. It enjoys consultative/ observer status with concerned agencies in UN system such as ECOSOC, UNCTAD, WIPO, UNIDO, UNICITRAL, UNESCAP, ITC and ILO. It also cooperates actively with several intergovernmental and international organizations such as WCO, OECD, ICSB, APCTT, etc. Khaled Nagaty is also the chairman of Metropolitan Consulting, the first credit and financial advisory firm in Egypt to present a variety of financial & credit services to both SMEs & Corporate companies in Egypt. More»
Islam Abdelhameed - 2014-10-14 14:43:32
The 24th Conference of the Federation of Afro-Asian Insurers and Reinsurers (FAIR) will take place in Cairo next October 2015. According to the Chairman of the Insurance Federation of Egypt (IFE) Abdel Raouf Kotb, Egypt will host the FAIR’s 24th Conference on 12-13 October 2015. The Egyptian top official told Amwal Al Ghad on Tuesday that FAIR’s board of directors approved during a meeting held a week earlier to hold the Federation’s 24th Conference in Cairo, which will coincide with the FAIR 50th anniversary as well. Organising such major events in fact contributes to develop the Egypt’s insurance industry through alluring more investors to pump new investments into the country, Kotb noted. FAIR 23rd Conference was held in Beijing, China on 16-20 September 2013, witnessing a presence of around 325 insurance and reinsurance figures from 52 African, Asian and European countries. More»
Alzahraa Mostafa - 2014-10-14 12:20:10
The General Assembly of Egyptian Takaful Insurance – Properties approved to distribute dividends to policyholders that worth up to EGP11.4 million, El-Sayed Bayoumi - head of investment department revealed. Egyptian Takaful Insurance– Properties'  net profits reached EGP26 million in June 2014 in compared to EGP17 million profits in the last year, move up by 53% growth rates. In statements to Amwal Al Ghad, Bayoumi explained that the company will announce for the date of distributing the profits in addition to policyholders will obtain their dues through an official announcement in accordance with law provisions in the upcoming period. The general assembly adopted the results of the company of the last fiscal year, explaining that the company has achieved EGP318.5 million premiums during the fiscal year of 2013-2014, compared to EGP274.4 million in the previous year move up with 16% growth rates, Bayoumi noted. Egyptian Takaful's total investments are EGP370 million in June against EGP283 million in the last year, registering 31% growth rates, the revenues of these investments reached EGP48.6 million in June in compared to EGP35.1 million at June 2013, with 43% growth rates. More»
Amwal Al Ghad English - 2014-10-14 08:40:41
Christopher Jarvis, an adviser with the International Monetary Fund, hailed economic reforms adopted recently by the Egyptian government. Jarvis said that these reforms will contribute to improve the position of the Egyptian economy. The statements came on the sidelines of the annual Spring meetings, of the IMF and the World Bank Group held in Washington. More»
Mohamed Hamdy - 2014-10-12 11:30:53
Alexandria Businessmen Association (ABA) obtained EGP40 million credit facilities from the Industrial Development and Workers Bank (IDWB) in order to finance micro projects. The Executive Director of ABA Moataz El Tabaa told Amwal Al Ghad that the cooperation with IDWB is the first business between the bank and ABA. ABA get credit facilities worth EGP280 million from the National Bank of Egypt and AlexBank ( Bank Of Intesa Sanpaolo Group ) in order to finance micro projects dividing between the two banks with EGP140 million for each bank. The total financing of ABA for micro projects are around EGP647 million, 209 thousand projects benefited from it within the first 9 months of this year. ABA is targeting to achieve EGP990 million finance at the end of 2014, stressing that the Association has financed 128.000 loans worth EGP88 million in September only. Furthermore, ABA is aiming to inaugurate 3 new branches this year one of them in Al-Sharqia governorate, becoming 63 branches by the end of 2014. More»
Islam Abdelhameed - 2014-10-11 14:24:58
Egyptian Saudi Insurance House Managing Director Abdel-Raouf Kotb revealed that his company is contracting with Al Baraka Banking Group to receive the underwrite of the two mutual funds in which Egyptian Saudi is planning to launch it by the upcoming period. In statements to Amwal Al Ghad on Saturday Kotb added that the capital of two funds up to EGP50million, asserting that his company decided to assign the board of the fund to EFG Hermes. The company is currently finalising the measures of launching the two funds in the Egyptian Financial Supervisory Authority (EFSA) as a prelude to offer the public underwrite through all branches of Al Baraka Banking Group, Kotb explained. It will be invested the money of two funds in mechanisms and channels compliant with Islamic law and Sharia and the Takaful insurance activity , explaining that these mechanism will  be determined after obtaining the approval of EFSA. More»
Ahmed El Damrdash - 2014-10-11 11:59:48
Egypt's Delta Insurance Company total assets fell to EGP436.02 million in June 2014 in compared to EGP968.06 million in the same period of 2013. An official copy data obtained by Amwal Al Ghad revealed that the Surplus of insurance activity of the company increased to EGP33.8 million in the fiscal year of 2013/2014 against EGP21.1 million in the same period of 2012/2013. The total value of premiums reached EGP210 million in June 2014 against EGP207.9 million in FY12/13, according to the data. The net premiums reached EGP126.6 million in June from EGP122.5 million in the same period of the fiscal year 2012/2013. The value of paid up compensations for the direct processes recorded EGP95.5 million in the same period in compared to EGP135.5 million. More»
Islam Abdelhameed - 2014-10-09 12:45:19
Egyptian Saudi Insurance House and Faisal Islamic Bank are planning to contribute in Salama Family Takaful Company (Life Insurance) in Egypt in which SALAMA - Islamic Arab Insurance Company a leading provider of direct Takaful companies in the United Arab Emirates requested to set up Salama Takaful in Egypt with EGP100 million capital. Managing Director of Egyptian Saudi Insurance House Abdel-Raouf Kotb said his company decided to contribute about 10% in the new capital of the company, stressing that the Faisal Islamic bank's proportion did not specify till now. Egyptian Financial Supervisory Authority (EFSA) announced its initial approval to set up  Salama Family Takaful Company (Life Insurance) in Egypt with EGP100 million capital. In Statements to Amwal Al Ghad on Thursday Kotb added that the new firm will be allocated in personal insurance activity and collecting money to achieve integration with Egyptian Saudi Insurance House. Furthermore, Kotb asserted that it will be pumped EGP20 million as an increase in Saudi Insurance House's capital to become EGP100 million during the upcoming phase. More»
Mohamed Hamdy - 2014-10-09 11:02:37
The total value of Alexandria Businessmen Association (ABA)'s finance reached about EGP647 million, around 209 thousand projects have benefited from ABA within the first 9 months of the current year. The Executive Director of ABA Motaz El Tabaa told Amwal Al Ghad that the Association is aiming to achieve EGP990million finance by the end of 2014, he noted that ABA has financed 128.000 loans worth EGP88 million in September. ABA is targeting to inaugurate 3 new branches in the current year including Al Sharqia branch that will be opened this year so the number of branches will be 63 by 2014. Moreover, the Association is the first beneficiary to query credit service in cooperation with I-score Company as the Association obtained 6000 monthly credit inquiries from the company. More»
Islam Abdelhameed - 2014-10-08 13:01:18
The Deputy Managing Director Finance at Royal Insurance Company, Ahmed  Hosny said Royal has contracted with Credit Agricole bank in order to receive underwrites with EGP50 million mutual fund capital. In statements to Amwal Al Ghad on Wednesday, Hosny added that his company decided to assign the management of the fund to Alpha Capital Markets plc to manage the mutual fund. Royal's General Assembly held in the last month over the approval of launching mutual fund and the measures of launching mutual fund in Egyptian Financial Supervisory Authority  (EFSA) have finalised. The fund is aiming to provide secured investment and savings pot so as to offer Daily cash liquidity by calculating the daily cumulative return on the money invested in it. More»