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Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB

Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …

Daily News Egypt

All investigated transactions are correct, allegations are unfounded: CIB

The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules. Moreover, according to the statement, all objected transactions were examined and found correct, and …

Mohamed Samir

CIB contributes to UNEP FI Banking Principles among 26 global banking institutions

Commercial International Bank-Egypt (CIB) participated in the first workshop organised by the United Nations Environment Programme Finance Initiative (UNEP FI) for the development of Banking Principles to include social and environmental responsibilities. These principles will be the first to align with the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change, to …

Daily News Egypt

How to get personal or mortgage loans from CIB?

Commercial International Bank – Egypt (CIB) offers personal loans ranging from EGP 5,000 to EGP 1m without any guarantees, with a repayment period of up to 120 months. The bank additionally provides free life insurance for each borrower until the end of the loan period and allows borrowing with client’s deposits or savings certificates as …

Daily News Egypt

Electricity Ministry, UNDP, AmCham hail successful application of CIB energy efficiency 

The Commercial International Bank-Egypt (CIB) received a special award from the Energy Efficiency Project in recognition of its leading role in supporting and contributing to the national energy efficiency strategy through its various initiatives. The award was presented to Hisham Ezz Al-Arab, CIB chairperson and managing director, during the monthly luncheon of the American Chamber …

Daily News Egypt

CIB, AUC graduate new batch of entrepreneurs 

Bank aims to support startups to develop systems, technology solutions in field of financial innovation, expanding customer base, speeding up pace of financial inclusion: Farag The Commercial International Bank (CIB) graduated the third batch of business incubators in the field of financial technology, in cooperation with the American University in Cairo (AUC). The business incubator …

Daily News Egypt

IFC loans CIB $100m

The International Finance Corporation (IFC) signed an agreement on Tuesday with the Commercial International Bank (CIB) to fund it with $100m. This funding is considered the first supporting loan provided by the IFC to a local bank. This came after the recent regulations approved by the Central Bank of Egypt (CBE) allowing international finance institutions …

Mohamed Farag

Feeling the economic pulse

A year on from its currency devaluation, Egypt is brimming with opportunities for investments. Hesham Ezz Al-Arab, Chairman of the Commercial International Bank (CIB), talks of how the reforms have shaped the banking sector. How has the economic situation in Egypt altered after approximately a year since the decision to devalue the Egyptian Pound? We …

Forbes Middle East