KFH Group submitted a non-binding offer to obtain the data required for the assessment for United Bank on which basis final offer was not presented
Sources suggest that QIB is closer to winning the deal as it has plans to enter the Egyptian market and the deal’s value may reach EGP 22 billion, according to sources
According to the EIFA’s latest data, Islamic banking accounts for approximately 5% of the overall Egyptian banking sector
Last week, Banque du Caire, NBE, Banque Misr, Al Baraka Bank, and Nasser Social Bank also launched new certificates of deposits following Egypt’s Central Bank of Egypt (CBE) recent hike of key interest rates
This isn’t the first time that an international fund has been interested in UB, with an American investment fund revealed to have begun negotiations back in April 2019 by the Central Bank of Egypt
