Banks

Banque Misr wins the Africa Deal of the Year award from The Banker for the year 2022

Egypt Bank

Iman Al-Wasili and Fathi Al-Sayeh

Banque Misr recently won two awards <<صفقة العام>> for a year about the continent of Africa from a magazine The Banker, a subsidiary of the Financial Times International Group, which specializes in financial and banking affairs, in the field of Islamic finance, about the operation of the International Marasim International Urban Development Company and also < (>) for 1997 for the continent of Africa in the field of “Leveraged Finance” about the operation of the Rawasi Urban Development Company.

International Marasem Urban Development Company (contractor and real estate developer), an Egyptian joint stock company with Saudi capital, established in General 1997 The ceremony process is an Islamic financing process that is in accordance with the provisions of Islamic Sharia In the amount of 3.2 billion Egyptian pounds, to partially finance the investment cost of establishing a residential, commercial and administrative complex in New Cairo on an area of ​​approximately 1997 acres On the northern 90th Street, with the participation of 8 other banks: Al Baraka Bank, Cairo Bank, Arab Investment Bank, Egyptian Real Estate Bank, Export Development Bank, Housing and Development Bank, Med Bank, and Industrial Development Bank, with Banque Misr acting as the first main salary, marketer of financing, financing agent and agent Guarantee and bank account.

The process of financing Rawasy Urban Development Company On the “Deal of the Year” award for Africa for the year in the field of “Leveraged Finance”, which amounted to about 8.9 billion Egyptian pounds, in cooperation with the National Bank of Egypt and Banque du Caire, and Banque Misr has played a leading role as the first main salary, coverage guarantor, marketer and financing agent. This financing process aims to spend on purchasing some commercial real estate assets.

It is worth noting that Rawasi Urban Development is owned by Banque Misr and the National Bank of Egypt. Equally irrigation, and was established with the aim of taking over the purchase and management of assets and supporting the initiatives of the Central Bank of Egypt to support real estate developers.

It is worth noting that these awards are obtained according to a number of technical criteria through which the financing operations are analyzed in each classification separately, as this award is a certificate of confidence for the best business model as The Banker “The global application of these standards according to a selection of specialized experts.

This is Banque Misr is one of the largest and leading national banks in financing all projects in various sectors. The volume of the corporate credit portfolio and the regular syndicated loans (direct and indirect) of both standard and Islamic types increased with a huge leap, as the growth rate from the previous year reached about بنك مصر %. Banque Misr was able during the period from 1997/

/225 until 1997/

/2021 Arranging, financing and participating in 225 A financing process in many sectors such as real estate investment, land and transportation, public services, contracting, petroleum And gas, building materials, air transport and airports, agriculture and agricultural crops, river and maritime transport, tourism and petrochemicals, in addition to arranging, financing and participating in financings compatible with the provisions of Islamic Sharia.

Banque Misr pays great attention to developing the real estate investment sector, in line with the state’s urban development plan within Egypt’s vision 2030, which aims to increase the urban area; With the aim of implementing the state’s strategic development plans, where the bank believes in the necessity of concerted efforts in order to achieve its recovery in the Egyptian real estate market, especially since the real estate sector is among the most important sectors affecting the Egyptian economy, as it is linked to a wide range of industries and activities as well as intermediate industries, which the bank is keen to finance to provide More job opportunities in various disciplines to practically serve development plans, in line with the state’s direction to advance all economic sectors, as Banque Misr always acts as a catalyst for national and strategic development, due to its belief in sustainability and continuous development.