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In 1952 Egypt’s private sector accounted for 76 percent of economic investment. Following the nationalization plans carried out by President Gamal Abdel Nasser in the effort to build a post-independence socialist state, this percentage drastically shifted within a few decades to government investment accounting for over 80 percent of economic investment. [1]
The "123" network links more than 30 Egyptian Banks supporting more than 1500 ATMs distributed all over Egypt. This network provides the banks' clients with direct access to their different accounts at any time and from anywhere through the ATMs carrying the "123" logo.
First Abu Dhabi Bank - Misr (FAB), part of First Abu Dhabi Bank Group; Ahli United Bank - Egypt (AUB), part of Ahli United Bank Group; Faisal Islamic Bank of Egypt; Housing and Development Bank (HD-Bank), state-controlled; Al Baraka Bank of Egypt S.A.E. National Bank of Kuwait - Egypt (NBK), part of National Bank of Kuwait Group
The Commercial International Bank was established in 1975, [4] with joint ownership by National Bank of Egypt (51%) and Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt". [5] In 1987, after Chase Bank’s decision to sell its share of the shares, the National Bank of Egypt established an increasing in its stake to 99.9% ...
The modern system of Arab banks was created in Egypt in the late 19th century, with the campaign of modernizing the country. Today Arab banks are among the most pioneering in Developing countries , and some are competitors to major international banks.
(The National Bank of Egypt was British-owned, and all the other banks in Egypt were owned by foreigners.) Harb modeled Bank Misr's operations on those of Deutsche Orientbank with which he was familiar due to his friendship with the owner of a Sephardi Jewish bank, Banque Suarès. Harb established Banque Misr and its companies on the basis of ...
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