Banque du Caire partners with National Bank of Uzbekistan to facilitate exports from Egypt
Banque du Caire signed an agreement with National Bank of Uzbekistan (NBU) to boost Egypt's exports to the Community of Independent States (CIS), an Asia-Europe community constituted of 12 ex-soviet union states.
Banque du Caire will guarantee payment facilities to countries of that union (Russia, Armenia, Uzbekistan, and the others) that import products from Egypt. NBU will then facilitate financial transactions for Egyptians who export to that union.
Ashraf Abu Alam, general manager of the financial institution's sector at Banque du Caire, said that his institution was planning to boost its financing and support to Egyptian exporters to increase foreign reserves.
Source: Ecofin Agency