In a recent interview at the EBRD’s Trade Facilitation Program conference in Vienna, Deepesh Patel, the editor at Trade Finance Global, welcomed Abla Hussein, the Sector Head for Non-Bank Financial Institutions at the Commercial International Bank of Egypt (CIB).
Abla Hussein provided an insightful overview of Egypt’s dynamic trade and trade finance landscape. She emphasised Egypt’s strategic geographical location as a trade hub, connecting Asia and Africa, as well as its involvement in various multilateral trade agreements. With over 100 billion dollars in trade volume, Egypt is a thriving market for trade finance, and CIB is expanding its presence in Africa through strategic acquisitions. Abla also highlighted the active involvement of European companies in Egypt’s mega infrastructure projects, making it a dynamic trade finance market.
Despite some challenges, CIB has access to a wide range of correspondent banks, and they are leveraging EBRD’s support to overcome limitations in tenors and amounts, ultimately enhancing their competitiveness and offering better pricing to corporate clients.
The interview concluded with insights into CIB’s growth plans in Egypt and beyond, making it a must-watch for anyone interested in Egypt’s trade and finance scene.
Watch the full interview for more insights.