The withdrawal of companies: Economy of Egypt 2017

Source: Egyptian Institute for Studies

Author(s): Ahmed Zikrallah

Original Link: 


Observers thought that the withdrawal of investment companies from Egypt during the year 2017 was one of the consequences of floating the pound at the end of last year, which resulted in the departure of many foreign banks and companies and ceasing their operations in the Egyptian market. They thought that the difficult economic situation in Egypt pushed a number of banks to exit markets; the latest was Barclays Bank, who decided to leave Egypt as a result of the economic situation. Before Barclays Bank, there were banks like: Societe Generale Bank, French bank BNP, Canada’s Nova Scotia Bank, Piraeus Egypt Bank and National Bank of Oman…

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