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  • 03-12-19

    RMB business initiated by major commercial banks in Egypt

    (MENAFN) According to the Economic and Commercial Counselor's Office of the Chinese Embassy in Egypt on Monday, Egypt's main commercial banks have begun RMB business.


    The office said that, the banks, as well as the Banque Misr, the Commercial International Bank, and the National Bank of Egypt, now present RMB-related currency exchange, arrangement of accounts and issuing letter of credit services for companies.


    The central banks of the two countries signed in 2016 USD 2.56 billion bilateral local currency swap contract, which aims to ease bilateral trade and investment, and to assist keeping financial stability in the two countries.

    MENAFN0312201900450000ID1099361251

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