Ebeid probes setting international money market in egypt
Egypt, Economics, 12/23/2002

Prime Minister Atef Ebeid discussed on Saturday setting up an international money market in Egypt, said head of the Money Market Authority Abdel Hamid Ibrahim.

Ibrahim said the project was raised during Ebeid's meeting with Secretary-General of the Irish four face organization for development and investment promotion David Lovegrove and head of the Irish institution of promoting money market Francois Betan.

Ibrahim said the project will help increase the volume of the foreign investments in Egypt and provide job opportunities. He added that Ebeid welcomed during the meeting benefiting from the Irish expertise in this regard.

Meantime, the prime minister on Saturday presided over a meeting at which a review was made of the outlines of a new banking bill prior to referring it to the Shura Council and People's Assembly.

Ebeid said the government was in favor of the modernization and development of the banking sector with the aim of improving performance and the services rendered to the public.

Ebeid said that public sector banks should finance private sector projects and the modernisation of Egyptian industry under the Egyptian-European partnership agreement.

Also, Ebeid Saturday issued a decision appointing Moustafa Zaki Mohammed Abul Fetouh Chairman of the Egyptian-Arab Real Estate Bank. The decision also includes the appointment of a five-member board of directors of the bank.

Ebeid issued another decision appointing Shahin Serag Eddin Ezz Eddin as Board Chairman of the Egyptian Industrial Development Bank and members of the board.

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