A bank in Egypt. It promotes the increased use of retail banking among the Egyptian population and provides brokerage and investment services. It was established 1964 as a joint venture between the Central Bank of Egypt and the Kuwait Investment Authority.
According to Dr Benedict Oramah, President of Afreximbank, the banks are National Bank of Egypt, Banque Misr, Commercial International Bank, Arab-African International Bank, Audi Bank, Alex Bank, Arab Banking Corporation and Egyptian Gulf Bank.
The report rejected claims that the Arab-African International Bank provided $282m in grants to fund the project, stating that no grants to fund the programme were made by any domestic or international agency or institution.