Emirates NBD-Egypt, ADIFinance ink EGP 400M loan agreement

Updated 2/22/2024 9:29:00 AM
Emirates NBD-Egypt, ADIFinance ink EGP 400M loan agreement

Arab Finance: Emirates NBD-Egypt has signed a medium-term loan agreement worth EGP 400 million with Abu Dhabi Islamic Finance (ADIFinance), the leasing arm of Abu Dhabi Islamic Bank (ADIB), as per an emailed press release.

The loan aims to shore up the firm’s finance leasing activities as part of the bank’s strategy to empower non-banking financial institutions.

The deal comes within the framework of the bank’s plan to diversify financing vehicles and expand its horizon to reach a wider customer base of different economic segments.

This is in addition to achieving economic and sustainable development.

“Together, we aim to strengthen the financial landscape, expand business horizons, and provide enhanced funding solutions for our valued customers,” the bank’s Managing Director and CEO Amr El-Shafei commented.

“Collaborating with Emirates NBD – Egypt allows us to present innovative and sophisticated financial solutions that drive economic growth and enhance companies' adaptability to cope with everchanging economic situation,” ADIFinance’s Managing Director and CEO Mohamed Al Amiry.

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