Arab-African International Bank

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Arab-African International Bank

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.
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Egypt's Arab African International Bank (CAI:ABBK) bought the stake for KWD2.4m (USD8.3m/EUR6.1m).
At the Arab African International Bank, the dollar recorded EGP 16.65 for buying and EGP 16.75 for selling.
The issue was fully underwritten and co-arranged by Banque Misr, and the Arab African International Bank.
Project Description : The Project involves a senior loan of up to US$100 million and a line under the Global Trade Finance Program (GTFP) to Arab African International Bank (AAIB or the Bank) to target medium enterprises and Sustainable Energy Finance (the Project).
The price was EGP 16.76 for buying and EGP 16.86 for selling at the Arab African International Bank and EGP 16.78 for buying and EGP 16.88 for selling at the National Bank of Greece.
The Arab African International Bank (AAIB) has signed a revolving credit agreement to finance foreign trade worth $50m with the European Bank for Reconstruction and Development (EBRD) as part of an EBRD package provided to AAIB worth $110m.
ADIB- Egypt as Initial Mandated Lead Arranger (IMLA) and the Global Coordinator signed the syndicated facility with its head office; ADIB-Emirates, Arab African International Bank, Banque du Caire and the Arab International Bank as IMLAs.
The dollar price decreased two piasters recording EGP 16.81 for buying and EGP 16.91 for selling at the Arab African International Bank.
Furthermore, he revealed that the company has contracted with three banks, namely the Arab African International Bank, the Commercial International Bank, and the Qatar National Bank to start a financing programme for customers who want to own a unit within La Capitale.
HSBC Bank Egypt committed EGP 400 million ($73 million), followed by Commercial International Bank and Banque Misr with EGP 350 million each ($63.8 million), Arab African International Bank and Banque du Caire with EGP 300 million ($54.7 million) each, Arab Bank with EGP 200 million ($36.5 million), and Misr Iran Development Bank committed EGP 100 million ($18.2 million).
At the National Bank of Egypt, Banque Misr and the Arab African International Bank, the dollar rate went down by two piasters recording LE 16.99 for buying and LE 17.09 for selling.

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