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Qasatli Mortgage Finance Company aims to build a financing portfolio of at least EGP 2.5 billion over the next three years as part of its expansion plan, following the signing of a credit facility agreement with the National Bank of Egypt (NBE). This agreement aims to enhance the company's ability to finance clients and support its operations in the mortgage finance market.

Ehab Omar, Managing Director of Qistly Mortgage Finance Company, stated that the agreement represents a significant step in the company's journey and reflects NBE's confidence in its performance over the past years, as well as its progress in implementing governance, compliance, and risk management standards.

He added that the company intends, in cooperation with banking institutions, to build a financing portfolio of at least EGP 2.5 billion over the next three years. This will enable the expansion of mortgage lending, increase the customer base, and strengthen the company's market share.

He explained that the agreement comes within the framework of NBE's continued support for the non-banking financial sector, particularly mortgage finance and leasing companies, which contributes to providing financing sources that support the growth of these activities and their role in the economy. Omar pointed out that the cooperation with the National Bank of Egypt reflects the company's commitment to implementing the regulatory controls issued by the Financial Regulatory Authority, in addition to adhering to governance and compliance standards, Know Your Customer (KYC) procedures, and conducting the necessary credit studies and inquiries before granting financing. This supports the quality of the financing portfolio and mitigates risks.

He emphasized that the agreement is not limited to providing financing for the company's activities, but rather represents the beginning of a strategic partnership with the National Bank of Egypt. This partnership includes exploring cooperation on a number of new financing products and services that the company is developing in the coming period.

He added that the company aims to expand its network of partnerships with banks and financial institutions, leveraging the new agreement to enhance its ability to implement its expansion plans and provide financing solutions that meet the needs of various customer segments.

The Managing Director of Qistali Mortgage Finance concluded his remarks by affirming the company's continued commitment to its growth plan. This will be achieved through developing its products and strengthening cooperation with banking institutions, thereby contributing to supporting the mortgage finance market and the non-banking financial sector in Egypt.

In support of the state's drive towards promoting sustainable finance and in line with international best practices in sustainability, the Central Bank of Egypt (CBE) has begun preparations for issuing a "Sustainable Finance Taxonomy." This taxonomy will provide accurate and reliable data on sustainable economic activities, addressing the interplay between economic growth and environmental and social issues. This will contribute to enhancing investor confidence and creating a more attractive environment for green and sustainable investments in general.

In this context, a technical working group has been formed, comprising representatives from the Ministries of Foreign Affairs, International Cooperation and Egyptians Abroad, Finance, Local Development and Environment, Investment and Foreign Trade, and the Financial Regulatory Authority. The group's purpose is to coordinate and integrate efforts among all relevant stakeholders and to provide input during the development of the Sustainable Finance Taxonomy, which the CBE intends to issue.

The working group held its first meeting at the CBE headquarters, attended by representatives from the member ministries and agencies. The CBE's approach to the taxonomy was explained, along with presentations on international experiences in this field, relevant international standards, and the challenges and opportunities involved. The meeting concluded with an agreement to immediately begin implementation steps, emphasizing the importance of full coordination among the working group members. The Sustainable Finance Rating, once issued, is expected to contribute to increasing the volume of international financing in this promising field, as well as enhancing the efficiency of risk management in project finance by providing clear ratings and guidelines for identifying environmental and social risks.

The Central Bank of Egypt (CBE) has directed banks operating in the Egyptian market to complete the basic data for both borrowing and non-borrowing companies and establishments, based on the Commercial Registry system, including the unified Commercial Registry number, in each bank's database.

In a circular, the CBE also directed banks to upload all data for both borrowing and non-borrowing companies to the National Financial Inclusion Database for Companies at the CBE, using the unified Commercial Registry number, which is updated monthly by each bank.

The CBE further instructed banks to declare the unified Commercial Registry number for micro, small, and medium-sized enterprises (MSMEs) and establishments in the I-Score system, according to current regulations, and in the CBE's credit registry system as soon as the necessary infrastructure for receiving this data is completed at the CBE.

The CBE set a deadline of the end of December 2026 for the completion of these procedures for borrowing companies and the end of June 2027 for non-borrowing companies.

This aims to strengthen the financial inclusion database for companies, which supports the accurate measurement of financial inclusion indicators and contributes to expanding access to banking services and products. It is worth noting that the National Database for Financial Inclusion of Individuals, which was created in 2018 using the national number, is used to measure the rates and indicators of financial inclusion that are published semi-annually. Also, since November 2022, a national database for companies has been created based on the unified commercial registration number.

The Central Bank of Egypt announced that net international reserves rose to $56.293 billion at the end of July, compared to $55.072 billion at the end of June, an increase of $1.221 billion.

Egypt's foreign reserves consist of a basket of major international currencies, including the US dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan. The allocation of Egypt's holdings of each currency is based on their exchange rates and stability in international markets, and is subject to change according to a plan set by officials at the Central Bank of Egypt.

The Central Bank of Egypt revealed that gold reserves included in its foreign reserves rose to $17.193 billion at the end of July 2026, compared to $16.784 billion in June.

Data also showed that the value of foreign currencies within the reserves increased to $38.7 billion at the end of July 2026, compared to $37.8 billion in May. Meanwhile, the balance of Special Drawing Rights (SDRs) decreased to $446 million at the end of July 2026, compared to $444 million in June 2026.

Net international reserves rose to $56.293 billion at the end of July, compared to $55.072 billion at the end of June, an increase of $1.221 billion. Egypt’s foreign reserves consist of a basket of major international currencies, including the US dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan. The proportion of Egypt’s holdings of these currencies is distributed based on their exchange rates and stability in international markets, and is subject to change according to a plan set by officials of the Central Bank of Egypt.

To Reduce the Import Bill and Increase Industrial Exports:

Cabinet Media Center: Incentives and Investments Support Industrial Expansion in Priority Sectors
- Tax deductions on investment costs ranging from 30% to 50% to support industrial projects
- EGP 30 billion in facilities within the initiative to finance priority industrial sectors at a reduced interest rate for 5 years
- Refund of up to 50% of the land value for projects that begin production within the specified period
- Expansion in priority industries supports increased industrial exports and deepened local manufacturing

The Cabinet Media Center published a number of infographics on its social media platforms, highlighting the state's efforts to promote expansion in priority industrial sectors through a comprehensive package of incentives and investments, which contributes to reducing the import bill, increasing industrial exports, and enhancing the competitiveness of Egyptian products in local and global markets.

These efforts are part of the state's strategy to deepen local manufacturing, localize targeted industries, and increase the added value of Egyptian products by providing an attractive investment environment, offering integrated financing and tax incentives, and expanding the implementation of major industrial projects in priority sectors. This will enhance the productive capacity of the national economy and support the achievement of sustainable economic development.

The infographics highlighted the most prominent incentives and facilities granted to the industrial sector, including a tax discount on investment costs ranging from 30% to 50%, a unified customs duty of 2% on machinery and equipment, and a cash investment incentive ranging from 35% to 55% of the tax paid for projects that rely on foreign currency for at least 50% of their financing.

The incentives also included a refund of up to 50% of the land value for projects that commence production within the specified timeframe, in addition to launching an initiative to finance priority industrial sectors, providing financing facilities worth EGP 30 billion at a reduced interest rate of 15% for a period of 5 years. In the same vein, the Egyptian Industrial Development Strategy 2030 identified seven priority industrial sectors, including ready-made garments, textiles, food processing, pharmaceuticals, automobiles and their components, electrical equipment and engineering industries, and electronics.

The infographics highlighted several industrial projects within these priority sectors, most notably the automotive and components industry. These included the establishment of the Sumitomo factory for producing automotive wiring harnesses with a production capacity of 15 million harnesses annually and investments totaling €155 million, as well as the Nasr Automotive Complex, which has a production capacity of 600 buses and minibuses annually, in addition to 20,000 cars annually, with investments amounting to EGP 3.5 billion.

The infographics also covered the electrical equipment and engineering and electronics sectors, which have witnessed significant expansion through a number of industrial projects. These include the Samsung factory with a production capacity of 6 million units annually and investments exceeding $700 million, as well as the establishment of the Beko complex with a production capacity of 1.5 million devices annually and investments of $110 million.

The infographics also highlighted the most prominent projects in the spinning, weaving, and ready-made garments sector, foremost among them the Misr Spinning and Weaving Company's factory complex. This complex boasts an annual production capacity of 10,300 tons of yarns and pile, in addition to producing 1.9 million pieces of clothing and blankets, and 8.3 million meters of fabric annually, with investments totaling 27 billion Egyptian pounds.

The sector also includes the Egypt Kady Textiles Company factory, which has a production capacity of 30,000 tons of fabrics annually and an investment cost of $100 million. Regarding the food and pharmaceutical industries sector, the infographics pointed to a number of major industrial projects, including the “Mexicano” factory, which has an investment cost of $5 million and a production capacity of 60,000 tons of crushed flour annually, as well as the “Canal Sugar” factory, with an investment cost of $1 billion and a production capacity of 480,000 tons annually, in addition to the “Atico Pharma Egypt” factory, with investments of $60 million and a production capacity of 50 million bottles of solutions annually after the completion of the two phases.

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Egypt's net international reserves rose to $56.293 billion at the end of July, compared to $55.072 billion at the end of June, marking an increase of approximately $1.221 billion in one month, according to recent data released today.

Foreign Reserves
Egypt's foreign reserves consist of a diversified basket of major international currencies, primarily the US dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan. The allocation of these currencies is based on their exchange rates and stability in global markets, according to a systematic plan determined by Central Bank officials.

Al-Minshawi: This cooperation opens new horizons for developing several tourist sites and establishing integrated projects that align with the state's development plans.

Al-Ghannam: A new step within the framework of the agency's strategy to maximize the utilization of state-owned assets.

Prime Minister Dr. Mostafa Madbouly witnessed today, at the government headquarters in New Alamein City, the signing ceremony of a cooperation protocol between the General Authority for Tourism Development, affiliated with the Ministry of Housing, Utilities, and Urban Communities, and the Future of Egypt Agency for Sustainable Development. The ceremony was attended by Eng. Randa Al-Minshawi, Minister of Housing, Utilities, and Urban Communities; Dr. Bahaa Al-Ghannam, Executive Director of the Future of Egypt Agency for Sustainable Development; and Dr. Walid Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for Urban Communities. This initiative reflects the state's commitment to maximizing the utilization of assets, enhancing tourism development, supporting efforts to attract investments, and achieving sustainable development.

Al-Minshawi The cooperation protocol was signed by Engineer Mustafa Abdel Wahab, CEO of the General Authority for Tourism Development, and Major General Khaled Salah, representing the Future of Egypt Authority for Sustainable Development. This protocol aims to enhance joint cooperation regarding the utilization and development of lands owned by the Authority in tourist areas, and to leverage the Authority's technical and planning expertise in preparing the necessary studies and plans for projects to be implemented. This will ensure the optimal use of assets and improve the efficiency of development and investment projects.

It was noted that the signing of the protocol comes within the framework of ongoing coordination between the Ministry of Housing, Utilities, and Urban Communities, represented by the General Authority for Tourism Development, and the Future of Egypt Authority for Sustainable Development, to support the state's objectives in developing tourist destinations, maximizing the economic return from state-owned lands, and providing an attractive investment environment based on scientific planning and optimal resource utilization, in line with the goals of Egypt Vision 2030.

Under the protocol, the General Authority for Tourism Development will provide technical and advisory support to the Future of Egypt Authority in preparing studies and general and detailed plans for projects, contributing to obtaining the necessary approvals and permits, and providing technical opinions at various stages of implementation. This includes exchanging relevant data and information, which will contribute to raising the efficiency of planning and implementation and achieving the highest economic and developmental returns from the targeted projects.

The cooperation also includes the formation of a joint coordination committee comprising representatives from both sides. This committee will be responsible for monitoring the implementation of the protocol's provisions, ensuring continuous coordination between working teams, and addressing any obstacles that may arise during the implementation phases, thus guaranteeing the rapid completion of projects and the achievement of their objectives according to the specified timelines.

The protocol is based on the integration of roles between the two parties. The Future of Egypt Development Authority will benefit from the technical and organizational expertise of the General Authority for Tourism Development in the field of tourism development. This will contribute to developing projects that add value to the national economy, enhance the optimal utilization of assets, and support the state's efforts to increase investment rates and create new development opportunities in tourist areas.

Following the signing, Engineer Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, indicated that the signing of the cooperation protocol between the General Authority for Tourism Development and the Future of Egypt Development Authority for Sustainable Development reflects the state's commitment to strengthening integration among its institutions and unifying efforts and expertise to maximize the benefit from state-owned assets and direct them towards development and investment projects that achieve the highest added value, especially in areas with promising tourism and investment potential.

The Minister of Housing explained that the General Authority for Tourism Development possesses extensive experience in tourism planning, development, and feasibility studies. She emphasized that this collaboration will open new horizons for developing several tourist sites and establishing integrated projects that align with the state's development plans. This will contribute to attracting more local and foreign investment, maximizing the economic return on assets, and supporting the state's efforts to achieve sustainable urban and tourism development.

For his part, Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt for Sustainable Development Authority, affirmed that the protocol represents a new step within the Authority's strategy to maximize the utilization of state-owned assets. This will be achieved through building institutional partnerships with specialized national entities, ensuring the implementation of projects based on scientific and planning principles that achieve the highest economic and developmental returns, while keeping pace with the state's sustainable development goals.

He added that cooperation with the General Authority for Tourism Development provides an institutional framework that combines technical expertise and executive capabilities, which contributes to the development of tourism and investment projects capable of maximizing the economic value of assets, attracting investments, supporting urban and tourism development, and enhancing the contribution of this vital sector to the national economy, in line with Egypt’s Vision 2030.

El-Menshawy: Establishing "Mawaslat Madoun Misr" is an important step towards developing the transportation system within new cities.

El-Ghannam: "Mawaslat Madoun Misr" is a strategic step towards developing smart transportation services in new urban communities.

Prime Minister Dr. Mostafa Madbouly witnessed today, at the government headquarters in New Alamein City, the signing ceremony of an investment and shareholders agreement between "Madoun Misr for Asset and Utilities Management," affiliated with both the New Urban Communities Authority and the Future of Egypt for Sustainable Development Authority, and "Mawaslat Misr," in which the National Bank of Egypt participates. The agreement establishes "Mawaslat Madoun Misr," which will operate and manage the smart and sustainable transportation system within new urban cities. The ceremony was attended by Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt for Sustainable Development Authority; Dr. Walid Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for Urban Communities; and Mr. Mohamed El-Etreby, CEO of the National Bank of Egypt.

The agreement was signed by Eng. Mohamed Mahmoud Abu Taleb, CEO of Madinat Misr for Asset and Utilities Management, and Mr. Hisham Ahmed Taha, CEO and Managing Director of Mwasalat Misr, as part of a partnership aimed at establishing Mwasalat Madinat Misr to operate and manage smart urban transport services within new urban cities. This will be achieved using the latest operational and technological systems, supporting the state's efforts to develop the transportation system and improve the quality of services provided to citizens.

The signing of this agreement complements the ongoing coordination between the Ministry of Housing, Utilities, and Urban Communities and the Future of Egypt Authority for Sustainable Development to provide a modern and sustainable urban transport system within new cities. This system will rely on digital solutions and smart operating systems, keeping pace with the urban expansion the country is witnessing and contributing to enhancing the quality of life and supporting sustainable development goals.

Under the agreement, Egypt's "Mwasalat Madinat Misr" (City Transport Egypt) will operate and manage the transportation system within the targeted cities, utilizing a modern fleet of 200 new vehicles. This includes establishing an integrated fleet management and operation system, comprising central and branch operations rooms, electronic equipment for vehicles, stations, and garages, and an electronic payment system in cooperation with the National Bank of Egypt. This will ensure the provision of smart, safe, and sustainable urban transportation services.

The agreement also includes providing a comprehensive insurance system for vehicles and passengers, implementing specialized programs to qualify and enhance the skills of drivers and staff, and training technical and administrative personnel according to the latest international standards. This will enhance operational efficiency and service sustainability within the new urban cities.

The project is based on a modern operational model aimed at enhancing the efficiency of the urban transport system and achieving the highest quality standards. It also features gradual expansion to cover more new urban areas, supporting the state's vision of building a smart and sustainable transport system that integrates with infrastructure projects and national transport networks, and contributes to achieving the goals of Egypt Vision 2030.

Following the signing, Engineer Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, affirmed that the establishment of "Mawaslat Masr" (Egypt Cities Transport) represents a significant step towards developing the transport system within new cities and providing modern, safe, and sustainable means of transportation that align with the increasing urban and population growth rates in these cities. She pointed out that providing an efficient and integrated transport system is a key element in achieving comprehensive urban development and enhancing the quality of life for citizens.

The Minister of Housing explained that the new system will rely on the latest technological solutions and smart management and operation systems, contributing to increased efficiency in transportation services, improved user experience, and integration between different modes of transportation within new cities. She emphasized the importance of gradually expanding the service to include more cities, in line with the state's urban development plans, thus supporting the goals of transforming into smart and sustainable cities and enhancing the capacity of new urban areas to accommodate more residents, activities, and investments.

For his part, Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt for Sustainable Development Authority, affirmed that the establishment of the "Egypt Cities Transportation" company embodies the Authority's commitment to building sustainable investment models in partnership with the private sector, contributing to the development of the service system within new urban cities according to the highest operational standards.

He added that the agency is working to maximize the utilization of assets and investment opportunities by establishing economic entities capable of providing advanced services that add value to the state and its citizens, enhance the efficiency of facility management, improve quality of life, and align with urban development goals and Egypt's Vision 2030. He emphasized that the next phase will witness an expansion of this model in partnership with national institutions possessing the expertise and competence to achieve the best economic and operational returns.

The "Mawaslat Madinat Misr" (Egyptian Cities Transport) company represents a model of public-private partnership in managing and operating urban transport services. It is based on specialized operational expertise and an integrated institutional structure, supporting the expansion of sustainable transport services within urban areas and enhancing integration with national transport projects. It provides an operational model that can be scaled up in various new cities, contributing to improved service efficiency, maximizing asset utilization, and achieving sustainable economic returns, in line with the state's objectives for developing the transport system and supporting urban development.

- Sugar at the new price will be available at consumer complexes, Ministry of Agriculture outlets, and the Future of Egypt Development Authority, as part of coordination and integration among state entities to alleviate the burden on citizens.

- The Holding Company for Food Industries will be responsible for supplying all participating outlets with their needs of free-market sugar to ensure a consistent supply and increased availability.

Following directives from Dr. Sherif Farouk, Minister of Supply and Internal Trade, Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation, and Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt Development Authority, and within the framework of coordination and integration among the three entities, it was decided to begin offering free-market sugar at a price of 25 Egyptian pounds per kilogram instead of 28 pounds, starting Thursday, August 6, 2026.

This includes the consumer complexes affiliated with the Holding Company for Food Industries, in addition to all outlets of the Ministry of Agriculture and Land Reclamation and the "Super Tawfeer" outlets affiliated with the Future of Egypt Development Authority. This will expand the availability of the commodity to citizens, strengthen the state's efforts to provide basic commodities at reasonable prices, alleviate the cost of living, and support market stability. The Holding Company for Food Industries is responsible for supplying all participating outlets with their needs of free-market sugar at the new price. This ensures the smooth flow of distribution and increases the quantities offered according to demand levels, guaranteeing the availability of the commodity and its continued accessibility to citizens in all governorates.

The Holding Company for Food Industries confirmed that it is implementing the directives of Dr. Sherif Farouk, Minister of Supply and Internal Trade, by providing the necessary quantities of free-market sugar to consumer complexes. It is also supplying the outlets of the Ministry of Agriculture and Land Reclamation and the Future of Egypt for Sustainable Development with their requirements, thus contributing to expanding the network of outlets offering sugar at the reduced price and improving the efficiency of the supply and distribution system.

The company also affirmed its continued monitoring of withdrawal and demand rates on a daily basis, while simultaneously bolstering sugar reserves and supplying additional quantities according to consumption needs, ensuring sustained availability and market stability. This cooperation comes within the framework of coordination and integration between state institutions to implement the national program to alleviate the burdens on citizens, enhance food security, and ensure the availability of basic commodities in sufficient quantities and at reasonable prices, by utilizing the extensive networks of outlets belonging to each entity, in a way that serves the interests of citizens and supports market stability.

Implemented by a global alliance with foreign direct investments exceeding $5 billion:

Prime Minister reviews proposal for two integrated medical city projects in the New Administrative Capital and New Alamein City with foreign direct investments exceeding $5 billion
Madbouly directs the formation of a working group to finalize technical, financial, and legal discussions
Minister of Health: The two projects represent entirely foreign direct investment and a qualitative leap in developing the Egyptian healthcare system

Dr. Mostafa Madbouly, Prime Minister, held a meeting to review the proposal for two integrated medical city projects in the New Administrative Capital and New Alamein City. The meeting was attended by Dr. Khaled Abdel Ghaffar, Minister of Health and Population; Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities; Major General Walid Aref, Head of the Engineering Authority of the Armed Forces; Major General Dr. Ashraf El-Araby, Head of the Consulting Office at the Engineering Authority; Dr. Sherif Mostafa, Assistant Minister of Health for National Projects; Dr. Mohamed Mostafa, Head of the Hospitals and Educational Institutes Authority; and officials from the global alliance, which includes a number of Private sector companies.

At the beginning of the meeting, the Prime Minister emphasized that the projects to establish the two medical cities in the New Administrative Capital and New Alamein are of paramount importance. He noted that they had been the subject of follow-up and discussion in several previous meetings, reflecting the government's commitment to expediting their implementation.

During the meeting, Dr. Mostafa Madbouly discussed the proposed financial model for the two projects, emphasizing the importance of accelerating the completion of all executive procedures.

During the meeting, Dr. Khaled Abdel Ghaffar, Minister of Health and Population, presented the proposed implementation plan for the two projects. He explained that a comprehensive financial framework for establishing the medical cities had been developed in collaboration with one of the largest specialized international alliances.

The Minister of Health and Population affirmed that the two projects represent a complete foreign direct investment. He explained that the projects represent a qualitative leap in the development of the Egyptian healthcare system by providing integrated preventive and curative services according to the highest international standards. Furthermore, they will support the state's efforts to develop medical education through the establishment of modern institutes and training centers that contribute to preparing and qualifying medical personnel and enhancing their efficiency. He added that the two projects include medical, administrative, educational, and training zones, as well as specialized hospitals equipped with the latest systems and technologies, thus enhancing Egypt's position as a regional hub for specialized healthcare, research, and medical education.

The Minister of Health and Population pointed out that, as part of the contract with the implementing consortium, the state will receive a significant percentage of the hospital beds to be allocated to the comprehensive health insurance system, thereby strengthening the healthcare system's capabilities and providing advanced treatment services to citizens.

He added that the state aims, through these two projects, to establish an integrated model for medical cities, based on successful international experiences in this field, which will contribute to providing advanced healthcare services and enhance Egypt's position as a regional center for medical tourism and specialized medical services.

During the meeting, officials from the global consortium that will implement the two projects confirmed that the Egyptian government will greatly benefit from their implementation. They noted that the total investment in the two projects exceeds $5 billion in foreign direct investment, with investments in the medical city in the New Administrative Capital amounting to approximately $2.8 billion, while investments in the medical city in New Alamein City amount to approximately $2.5 billion, reflecting the confidence of international investment institutions in the Egyptian economy and investment environment. They added that the two projects will rely primarily on Egyptian medical personnel, given the high level of competence and distinguished international reputation of Egyptian doctors. They emphasized that the projects aim to provide advanced healthcare services according to the latest global standards, in addition to expanding medical tourism services. The medical city hospital in the New Administrative Capital is expected to attract more than three million medical tourists within the first three years of operation.

Officials from the global alliance also explained that they have already begun evaluating several plots of land in New Alamein City to select the most suitable location for the medical city. They noted that the project's design takes into account the nature of the services to be provided, particularly in the field of medical tourism. The project will include a number of hotels to serve this sector, providing an integrated system that combines medical services and accommodation, and enhancing Egypt's competitiveness as a regional and international destination for medical tourism.

At the conclusion of the meeting, Dr. Mostafa Madbouly affirmed that the government fully supports the idea of ​​establishing two integrated medical cities in the New Administrative Capital and New Alamein City, given their potential to significantly advance the healthcare system and enhance Egypt's position as a regional hub for medical services and medical tourism.

The Prime Minister directed the formation of a joint working group comprising representatives from relevant Egyptian authorities and the global consortium. This group will be tasked with expediting the completion of technical, financial, and legal discussions and reaching a final agreement, paving the way for the commencement of the two projects.

Commercial International Bank – Egypt (CIB) announced the launch of its new personal loan program, offering customers financing of up to EGP 5 million secured by their residential property. This initiative aims to provide more flexible financing solutions that meet diverse financial needs.

The bank explained that the program allows eligible customers to obtain the loan without administrative fees and without providing proof of income or mortgaging the property. This gives customers greater flexibility in using the loan amount according to their needs. The bank noted that eligibility for the program requires the residential property to be located within a project by one of Egypt's leading real estate developers, with a minimum down payment of 50% of the property's value.

The bank emphasized that the loan grants customers complete freedom to use the financing for personal needs, thus maximizing the investment value of the property.

The National Bank of Kuwait – Egypt announced its financial results for the first half of 2026, reporting net profits of EGP 3.1 billion for the period ending June 30, 2026, a 30% increase compared to EGP 2.4 billion for the same period last year.

Pre-tax profits also saw a 40% increase, reaching EGP 4.5 billion compared to EGP 3.2 billion for the same period in 2025. Net interest income for the first half of 2026 rose by 34% to EGP 5.1 billion, compared to EGP 3.8 billion for the same period last year.

The bank also reported a significant increase in net interest income for the first half of 2026, reaching EGP 5.1 billion compared to EGP 3.8 billion for the same period last year. With the bank maintaining a strong financial position over the past years, its total assets increased by 10% to reach EGP 196.7 billion, compared to EGP 178.1 billion at the end of December 2025. Customer deposits also rose by 15% to EGP 161.6 billion, compared to EGP 141 billion at the end of 2025, and the bank's total loan portfolio increased by 7% to EGP 93.5 billion, compared to EGP 87.6 billion at the end of 2025. Commenting on these results, Ali Marafi, Chairman of the Board of Directors of Al Ahli Bank of Kuwait – Egypt, stated: “Al Ahli Bank of Kuwait – Egypt’s strong performance during the first half of this year adds another achievement to the bank’s ten-year track record, reflecting our unwavering commitment to achieving the Group’s objectives and maximizing shareholder value. We will continue to build and develop in the coming period, relying on our confident future vision and sound corporate approach to maintain our position as a leading bank.” The bank has always been among the leading banks in the Egyptian banking market.” Ali Maarefi explained that the National Bank of Kuwait – Egypt continued to enhance its positive social impact by launching and implementing numerous corporate social responsibility initiatives. This is part of the bank’s commitment, since commencing operations in the Egyptian market, to making a positive impact on society. These efforts have received strong support from the bank’s employees through their participation in volunteer programs. In this context, we reaffirm our commitment to continuing to provide material and moral support to the most vulnerable groups through these initiatives to achieve sustainable community development and a more cohesive society.

For his part, Khaled El-Salawy, CEO and Managing Director of the National Bank of Kuwait – Egypt, commented on the outstanding financial indicators during the first half of 2020, saying: “The bank’s strong operational performance has enabled it to consolidate its financial position, enhancing its ability to face economic changes and deal efficiently with various challenges. He emphasized that the strategy adopted by the bank has proven its ability to mitigate risks and achieve remarkable growth rates across all performance indicators, amidst the rapid developments witnessed by the local and global economy.”

Khaled El-Salawy affirmed that the bank's outlook remains optimistic, bolstered by ongoing economic reforms and the government's significant efforts to enhance economic stability and stimulate investment. This contributes to creating a supportive environment for the growth of the banking sector and its continued vital role in supporting the national economy.

In the same vein, El-Salawy commended the Central Bank of Egypt's leading role in driving digital transformation and promoting financial innovation. This supports the achievement of financial inclusion goals and expands the reach of banking services to encompass various segments of society. He explained that the bank continues to launch digital initiatives and solutions that keep pace with technological advancements and meet customer needs, contributing to a more convenient and efficient banking experience. He noted that the bank's ambitious strategy aims to develop business plans across all sectors, establish clear performance measurement standards, and invest in infrastructure, technology, and geographical expansion to ensure the best possible banking service for its customers. It is worth noting that the bank recently received three awards from International Business Magazine for 2026. Khaled Al-Salawi, the bank's CEO and Managing Director, received the "Best Visionary Banking Leader" award in recognition of his role in leading the bank towards sustainable growth, establishing a culture of innovation and development, and enhancing institutional performance in accordance with global best banking practices. He also received the "Best Corporate Banking" and "Best Retail Banking" awards, confirming his excellence in providing banking services to individuals and companies. Adding to these exceptional achievements, the bank received the "Client Excellence Award" from Deutsche Bank in recognition of the strong partnership between the two banks during 2025. This recognition reflects the bank's outstanding performance and the quality of its operational processes, which have supported joint cooperation in the areas of relationship management, cash management, trade finance, corporate banking, and international client services according to the highest global standards. This strengthens mutual trust and supports further shared successes aimed at improving the quality of services provided to clients.

NXT Bank announced a strategic alliance with Kaf Insurance, one of Egypt's fastest-growing insurance companies specializing in digital insurance solutions. Kaf Insurance was established through a strategic partnership between EFG Finance, a subsidiary of EFG Holding Group, and GB Corp. The alliance aims to expand insurance services and provide customers with advanced financial protection solutions.

Through this partnership, Next Bank customers will be able to access a diverse range of Kaf Insurance products, including savings, life, and medical insurance programs, via the bank's branch network and digital channels. This will offer a more convenient and flexible experience to meet the diverse needs of customers. In this context, Sherif Nada, Head of Retail Banking, Branch Network, and BB at Next Bank, stated: “This alliance represents an extension of Next Bank’s strategy to provide integrated financial services that meet customer needs. The collaboration with Kaf Insurance, with its advanced digital capabilities and solutions, contributes to providing reliable and innovative insurance services that enhance the customer experience and align with the bank’s digital transformation strategy. It also supports the bank’s efforts to offer more accessible, flexible, and higher-quality digital services.”

For his part, Suhail Ali, CEO and Managing Director of Kaf Insurance, expressed his pride in the partnership with Next Bank, saying: “We are proud to collaborate with Next Bank within the framework of our shared vision to expand the scope of insurance services and make them more accessible to customers, contributing to the provision of innovative insurance solutions that support the needs of individuals and companies.”

This partnership reflects the commitment of both parties to supporting financial inclusion and promoting innovation in financial and insurance services, contributing to delivering added value to customers and supporting the growth of the bancassurance sector in the Egyptian market.

Minister Karim Badawi: Full Focus on Placing Upper Egypt on the Petroleum Investment Map

Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by Aswan Governor Amr Lashin, conducted an inspection visit to the Al-Baraka field in the Kom Ombo area, operated by the South Valley Egyptian Holding Company for Petroleum. The visit was attended by ministry officials, Dr. Samir Raslan, Chairman of the company, Mr. Memit Kont, Chairman of Mediterra Canada, the investor in the area, and MP Ahmed Al-Qahmouri, representative of Kom Ombo in the House of Representatives.

The visit comes as part of the ministry's ongoing efforts to revitalize petroleum investments in Upper Egypt and resume drilling and production operations in promising areas. This supports plans to increase production, attract new investments, and achieve economic development in the Upper Egypt governorates.

The minister inspected the resumption of drilling and maintenance work on production wells in the field, which had been halted since 2022. This follows Mediterra Canada's commencement of new investments and the arrival of its first drilling rig in the area to implement a program aimed at rehabilitating a number of wells and bringing them back into production. This represents a significant step towards reviving petroleum activity in southern Egypt. The Minister affirmed that Upper Egypt represents a key pillar of the Ministry of Petroleum and Mineral Resources' strategy to increase exploration and production activities, given the region's promising petroleum potential, which has not received sufficient exploration in recent years.

The Minister explained that the ongoing seismic survey project in southern Egypt covers approximately 100,000 square kilometers, equivalent to about 10% of the country's area. This survey will provide up-to-date data that will contribute to identifying and promoting promising investment opportunities to investors. He indicated that new investment opportunities resulting from the project will be announced as soon as their evaluation is complete, in conjunction with the implementation of a package of investment incentives. These incentives include the R-Factor system and the consolidation of concession areas, which will enhance the economic viability of projects and encourage companies to inject further investments.

The Minister added that developing petroleum activity in Upper Egypt is not limited to increasing production. Its effects extend to creating new job opportunities, stimulating complementary industries and services, and training more specialized petroleum personnel from Upper Egypt, thus strengthening the sector's contribution to supporting comprehensive development in southern Egypt. The Minister affirmed the Ministry's full support for the success and expansion of the Canadian company Mediterra in the region, explaining that the company's resumption of new investments came after the successful settlement of outstanding payments to foreign partners, in accordance with the directives of the political leadership. This has restored confidence in the investment climate within the petroleum sector.

He added that the Ministry is working to support the company in expanding into additional areas beyond its current operating zone and in merging its two existing concession areas. This will enhance the economic viability of its investments. He emphasized that the company's success in Upper Egypt sends a positive message and serves as an incentive to attract more international companies to operate and invest in southern Egypt.

For his part, Dr. Samir Raslan, Chairman of the South Valley Egyptian Holding Company for Petroleum, explained that the resumption of drilling operations at the Baraka field marks the beginning of a new phase in reviving petroleum activity in the region after drilling and production ceased in 2022. He noted that work resumed last month to implement a program for the maintenance of seven wells, the drilling of two new wells, and the study of drilling five additional wells after identifying the best locations in cooperation with the Egypt Exploration and Production Gateway (EUG). He added that the company is working on awarding six new oil and gas exploration blocks in southern Egypt, including South and North Baraka and Kharit, to the Canadian company Mediterra and the General Petroleum Company, in addition to a block in the Red Sea to BP. These blocks represent investments ranging from $60 million to $70 million, which are considered good investments in low-cost areas. The Baraka and West Baraka blocks have also been combined to increase economic viability. He affirmed that the ongoing seismic survey project will contribute to increasing the number of areas ready for investment to more than ten, thus strengthening southern Egypt's position on the exploration and production investment map.

During the tour, the Minister inspected the rehabilitation work at the Baraka-20 well and listened to a presentation from Engineer Mahmoud Talba, Chairman of Kom Ombo Petroleum Company, regarding the progress and targets of the drilling and maintenance program. He also went up to the drilling rig, observed the operations, and spoke with the workers, emphasizing the importance of full adherence to occupational safety and health standards and expediting the implementation of maintenance and drilling programs for production wells to maximize production.

The tour was attended by Engineer Mahmoud Nagi, Undersecretary of the Ministry for Safety, Environment, Energy Efficiency and Climate and the official spokesperson for the Ministry, Dr. Mohamed Radwan, Vice President of the Egyptian Holding Company for South Valley for Agreements and Exploration and Director of the Egypt Exploration and Production Gateway (EUG), and Engineer Ishaq Saad, Undersecretary of the Ministry for Crude Oil Production and Supervisor of Gas Production.