A conference for bank's alliance of Middle East countries on coming August

A banking alliance between Middle East banks is to be established to confront the deterioration of economic performance and the spread of unemployment on the regional level.

Egyptian banking sources referred to preparations for a conference to be held in August in Cairo, comprising the representatives of main banks in the region to draw up a strategy for the alliance in which they will discuss the problems and issues facing the region's banks.

The preparatory committee for the conference met last week to lay the groundwork for the conference.