imported 2024-03-17 17:43:07
“Several developers were keen to invest money and start building their own company, but because of the revolution, they have just put a stop to these projects. Now, these kind of positive trends are again on the rise.”
“Corporate banking is considered the fastest-growing portfolios in the whole country. The portfolio was acquired in 2008 by Banque Swiss, so we have a very clean portfolio since we’ve started.”
“We are one of the leading banks in the syndication market. We have a number of milestone transactions in hydrocarbons, energy, power generation, fertilizers etc. We are the leading bank in the SMEs proposition as well.”
There is something interesting about Egypt as far as SMEs are concerned. Anything and everything that you can imagine is already there in terms of services. Only people don’t know about it. Or they are isolated as islands or the services are offered to them in a very small portion. Whatever practice you can imagine in the world, already exists here in Egypt. The whole idea is to coordinate the efforts.
In September last year, during the celebrations in the New York Stock Exchange, Egypt was the winner of the best innovative stock exchange in the entire African continent.
Arabic Bayan Institute for Teaching Arabic is a specialized school teaching Arabic language using the most innovative and revolutionary method proprietary to the institute.
It’s very clear that the family business in Saudi Arabia is dominant in general for the economy. The future of the family business has to be improved and developed to meet the challenges, which is technology and many other things.
Well they have to reform public education and by public I mean pre-university education. The reform shouldn’t come before establishing what the problems are. In my opinion, the only reason to establish what the problems are, is to have a uniform national exam for the country. You know, it’s alright that you have Kuwaiti public schools, it’s alright that you have British private schools, American or French or what have you. Of course for people who are going to Britain, they have to take exams that are required by the universities in Britain.
Most of the business is done in partnership with Kuwaitis. We have a law here that requires that for a business to be established here, it must have a 51% Kuwaiti partnership. But now there is a new department in the Ministry of Finance, the Foreign Investment Department. Under this, if a foreign direct investor wants to set up a new business, say to produce ethylene, or cement etc., they can own up to 100% stake in it.
Commercial Bank was established in 1960. That’s about 50 years of existence. It opened in this area, the commercial area. Most of the branches were also built in the commercial area, rather than in residential areas. This was corrected later on when the management of the bank realised it was necessary to have a presence in the residential areas. There will be further expansion itno the residential areas of new cities that are coming up.
