Egypt, Russia sign banking cooperation agreement

The Central Bank of Egypt and the Central Bank of Russia Wednesday signed an agreement on promoting bilateral cooperation in banking domains.

ÊÊÊ Deputy Governor of the Central Bank Mahmoud Abdel-Aziz and Deputy Governor of the Central Bank of Russia Oleg Mozhaiskov signed the agreement.

ÊÊÊ Central Bank Governor Mahmoud Abul Oyoun, who attended the signing ceremony along with Russia's ambassador to Egypt Nikolay kartuzov, told reporters the agreement aims at increasing cooperation between the two banks.

ÊÊÊ The agreement will also help in broadening the scope of cooperation between Egyptian and Russian banks and in encouraging trade and economic relations between the two countries, he added.

ÊÊÊ The Russian ambassador said the agreement was indicative of the continued cooperation between Egypt and Russia.