Egyptian banks launch Apple Pay tokenization
Several major Egyptian banks have activated card tokenization services through Apple Pay, following the Central Bank of Egypt’s (CBE) February 2023 approval of regulations for this technology. National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB) are among
Banks, mortgage companies inject EGP 78.66bn into low-income initiative in November
Financial institutions participating in Egypt’s low-income mortgage finance initiative provided a total of EGP 78.66bn in funding to over 606,839 beneficiaries in November 2024. A report from the Social Housing Fund and Mortgage Finance Fund revealed that 22 banks contributed
CIB reports Q3 standalone revenues of EGP 25.2bn
The Commercial International Bank – Egypt (CIB) has reported third-quarter 2024 standalone revenues of EGP 25.2bn, up 98% from third-quarter 2023. The bank’s nine-month 2024 standalone revenues were EGP 71.4bn, up 87% from the same period in 2023, on the
CIB becomes first bank to undergo electronic inspection under Egypt’s new tax system
Sherif Al-Kilani, Deputy Minister of Finance for Tax Policies, highlighted the Minister of Finance’s commitment to maintaining open communication with the Ministry’s success partners and the Egyptian Tax Authority. He expressed gratitude for CIB’s achievement as the first entity in
Al Tadamun Microfinance, CIB sign credit facility agreement worth EGP 150m
Al Tadamun Microfinance Foundation, a leader in financing micro-enterprises for women, announced that it had signed an agreement with the Commercial International Bank – Egypt (CIB) to renew a credit facility agreement worth EGP 150m. This agreement aims to expand
CIB exits investment in Egypt Otsuka Pharmaceuticals, selling stake to Otsuka Group – Dailynewsegypt
Commercial International Bank-Egypt (CIB), Egypt’s leading private-sector bank, has announced the successful completion of its planned exit from Egypt Otsuka Pharmaceuticals (EOP), a leading player in the pharmaceutical industry and a member of the Otsuka Group. The divestment, which saw
CIB reports strong financial performance in Q2 2024 – Dailynewsegypt
CIB records Q2 2024 consolidated revenue of EGP 24.4bn
CIB collaborates with SAS Institute to enhance university students’ skills – Dailynewsegypt
The Commercial International Bank (CIB) Egypt recently signed a memorandum of understanding (MoU) with SAS Institute, emphasising their joint commitment to youth development and workforce readiness. Through this collaboration, students will gain essential skills and knowledge to navigate local and
CIB launches Egypt’s first private Mastercard World Elite Metal credit card – Dailynewsegypt
Commercial International Bank (CIB), Egypt’s leading private-sector bank, has partnered with Mastercard, a global technology company in the payments industry, to introduce the exclusive CIB Private Mastercard World Elite Metal Credit Card. This invitation-only card is designed for CIB’s high-net-worth
CIB, SACE collaborate to boost Egypt-Italy relations
The Commercial International Bank (CIB) in Egypt recently entered into an agreement with the Export Credit Agency in Italy, SACE. This strategic partnership aims to strengthen cooperation between the two countries. The agreement focuses on fostering mutual collaboration and creating