Al-Sharif Holding Group, NBE sign long-term financing contract for Shepherd Hotel development project

EGYPT – The Al-Sharif Holding Group, an Engineering, Procurement & Construction Company, and National Bank of Egypt (NBE) have signed a long-term financing contract that will contribute an EGP 978.2 million (US$62.45m) loan to the Shepherd Hotel development project. The loan, which will go towards the projects total cost of EGP 1.4 billion (US$89.38m), comes with an interest rate of 8% and a grace period of 3.5 years. Sharif Nawwaf bin Fayez, CEO and board member of the Al-Sharif Holding Group said that the facilities granted by the NBE are…

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NBE and AFD to finance climate conservation and development projects with US$119.15m

EGYPT – The National Bank of Egypt (NBE) and the French Development Agency (AFD) have signed a new credit facility agreement worth €100 million (US$119.15m) with the aim of financing climate conservation and sustainable development projects in Egypt. Chairperson of the NBE, Hisham Okasha, said that the new agreement will allow directing finance and support to the projects that are fully compatible with the sustainable development goals and the environment conservation. Fabio Grazi, Director of the AFD’s Regional Office in Egypt, affirmed the French Agency’s interest in this funding, especially…

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NBE receives ISO 27001:2013 certification for information security management systems

EGYPT – The National Bank of Egypt (NBE) has announced that it has been awarded ISO 27001:2013 certification for information security management systems by BSI, the British Standards Institute. The certification covers all of NBE’s electronic branches in the country which provide customers with a complete digital experience of some of NBE’s banking services without any human intervention. The bank has also renewed its certification for the previously awarded scope in 2016 & 2017 for its data centers and call center. Dalia el Baz, NBE deputy chairman confirmed that NBE’s…

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