Selling the Egyptian government's shares in the joint banks

The Egyptian ministerial committee for privatization decided to resume selling the Egyptian government's shares in joint banks after a halt that lasted for more than 15 months, as 11% of Cairo Barclez International Bank's shares will be sold to the British partner so that its share in the bank's capital will increase to 60%.

The Egyptian government's share will be raised in Misr American International Bank as three Egyptian and foreign corporations presented for the purchase: the Egyptian - Kuwaiti Holding Corporation, the French Bank Wand Sweez and the British bank Standard Trade.

The government's share in Misr Iran bank, which is estimated at 40%, will be also raised for an Iranian partner that desires to purchase this share so that its shares will increase to reach 80% of the bank's capital.