Amid current market upheavals and government attempts to boost the economy, the banking sector is searching for secure investment opportunities.
Last Tuesday, the CBE announced that it would allocate
Al-Manyalawy pointed out that the textiles industry requires funding from banks, "but those loans should be syndicated loans, due to the high production costs".
"The electricity and petroleum sectors are also good investments for banks," said Al-Manyalawy, adding: "Projects in the infrastructure sector in general need higher contribution from banks."
Former chairman of Misr Iran Development Bank Ismail Hassan said that all sectors require equal attention in order to operate effectively and increase production.
"What really matters for the banks, when choosing the sector of their investment, is the ability to meet deadlines for loan repayments," Hassan stated.
"Due to the shaky security situation, the rate of granting personal and auto loans has decreased," Al-Manyalawy said, adding that personal loans would increase if "the security status of the country improved".
"Banks should halt funding to entertainment projects, such as commercial malls, for a while," Al-Manyalawy said, adding that banks should direct their liquidity to vital sectors that would improve economic growth.
The banking sector has recently been a source for filling the financial gap in public authorities. Analysts say that funding governmental authorities is a secure investment for banks.
Earlier in December, 13 banks announced the completion of an
The chairman of SociÉtÉ Arabe Internationale De Banque (SAIB) said at the time that the deal is a contribution from the banking sector to revive the petroleum sector.
This move was said to reflect
An improvement of
In January, the
The managing director of EBRD's Southern and Eastern Mediterranean region,
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Quiznos Files for Chapter 11