The Egyptian Ministry of Finance paid $2 billion owed to it in favor of a coalition of Gulf and international banks from 17 different institutions, on August 31 last.
According to "Al-Shorouk" newspaper, quoting sources, the Finance Ministry repaid the loan two weeks before its due date, and had obtained it in September 2020 as the first Islamic and traditional financing obtained by the ministry. .
The shares of the participating banks in the financing are distributed at $250 million for the UAE Mashreq, and $150 million for each of the Arab Banking Corporation, Standard Chartered, Citibank and Bank ABC Islamic, while two banks acquired First Abu Dhabi and the Emirates Dubai on an amount of 700 million dollars in equal shares.
The remaining shares of the banks were equal at $50 million per bank, namely HSBC Middle East, Sumito Mo Mitsui Banking Corporation, Emirates Islamic, Gulf International Bank, Abu Dhabi Islamic Bank, Al Ahli Bank of Kuwait, Dubai International Financial Center Branch, Dubai Islamic Bank, Intesa San Paolo, Samba Financial Group, and Sharjah Islamic Bank.
