Last Update 17:44
Wednesday, 16 October 2019

Events to discuss the further development of the Cairo Frankfurt relations in the field of Banking & Financial Services

Ahram Online , Saturday 23 Mar 2019
Egypt central bank
Egypt central bank (Reuters)
Views: 2144
Views: 2144

Frankfurt as the European Financial center will become increasingly important for Egyptian and further Arab banks and financial services institutions with business links to Germany and Europe respectively.More than 1.2 trillion dollars in assets will have to be relocated after Brexit. Frankfurt is poised to gain $800 billion.

On Monday Frankfurt legal and regulatory experts are set to discuss Egypt's increasing role as a financial hub not just for continental Europe, but the larger MEN region as well, at a Cairo event.

With the United Kingdom’s coming exit from the European Union,

Frankfurt Main Finance, representing Frankfurt Financial Centre with the support of the Central Bank of Egypt, will inform the financial industry in Cairo of the most recent developments at the Diplomatic Club in Cairo.

“As the financial centre of Europe’s leading economy Germany and the home of the European Central Bank, Frankfurt is taking the lead to benefit post Brexit. 48 financial institutions, mainly from the US, Europe and Asia decided to relocate whole or part of their European Banking business to Frankfurt,” said Hubertus Väth, Managing Director of Frankfurt Main Finance e.V. “We see now a second wave coming from the MENA region.”

Yusef Ahmed, founder and managing director of FIC Frankfurt International, said: “As companies and banks finalize their Brexit contingency plans, Germany is committed to supporting Frankfurt’s key position in the new landscape of Europe’s financial industry.”

“While from a legal point of view regulatory issues for banks moving into Frankfurt have been most discussed in the face of new political conditions, Brexit also hosts opportunities for Frankfurt to establish itself as not only an M&A centre but also a transaction-financing hub,” said Dr. Nicolas Bremer, partner of international law firm Alexander & Partner.

Dr. Rüdiger Litten, partner of international law firm Fieldfisher, who has supported Kuwait Finance House establishing their fully licensed bank in Frankfurt, adds: “In the past months awe see an increasing number of banks and financial institutions from the MENA-region seeking our advice in opening shop in Frankfurt.”

The event will take place at the historic Diplomatic Club Cairo on 25 March 2019, from 6:30pm to 9:30pm.


Search Keywords:
Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.