Cairo - Mubasher: Banque Misr has obtained $400 million since the central bank of Egypt (CBE) took the decision to free float the Egyptian pound, the bank’s vice chairman Akef El-Maghraby told Mubasher.
El-Maghraby added that the bank has provided the required finances for all imports, adding that the market dynamics and mechanisms and not the central bank are currently controlling the exchange rates.
Banque Misr has financed small and medium enterprises (SMEs) with around EGP 2 billion, in line with the CBE’s initiative to support small businesses, he added.
