Egypt, biggest financial center in middle east, financial times report

A study released by the Financial Times newspaper reported that Egypt's proper investment climate lures more foreign investments as the country possesses big opportunities available in all fields with government's facilities and incentive.

Foreign banks have opened many branches in Egypt as they expect the country will be soon a financial center in the region especially following the government's economic reform policy.

The study warned against lack of the state-owned banks modernization will leave them unable to compete with foreign banks.