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Thursday, 13 August 2020

Al Baraka group to invest LE2 billion in Egypt

The Egyptian economic conference set to begin on Friday will host high level diplomatic and business delegations from around the world in a hope to changes its fortunes around

Ahram Online , Thursday 12 Mar 2015
Adnan Youssef
Al Baraka Banking group Chief Executive Adnan Youssef (Photo: Al-Ahram)
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Bahrain announced Al Baraka Banking Group plans to invest in projects presented at the Egyptian Economic Development Conference with LE2 billion in capital, Adnan Youssef, Chief Executive of the Group told Egypt state news agency MENA on Thursday.

Egypt is gearing up for an economic conference set to start on Friday and which aims to bring back investors to an economy battered by four years of political upheaval in the aftermath of the 2011 uprising.

Saudi Arabia's Crown Prince Muqrin bin Abdel-Aziz, Emirati Foreign Minister Abdullah Al-Nahyyan, Kuwait’s Emir Sabah Al-Jaber Al-Sabah and Bahrain’s King Hamad bin Issa Al-Khalifa are heading their respective country's delegations, according to official sources.

Youssef highlighted that the bank is eyeing investment opportunities as Egypt’s branch has a high liquidity rate exceeding 40 percent.

 

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