CIB’s first economic forum focused on the importance of the real estate sector and its role in supporting the Egyptian economy.
Cairo, March 15, 2023 — Commercial International Bank (CIB), Egypt’s leading private-sector bank, recently hosted its first economic forum titled “CIB for Egypt & Beyond,” which falls in line with the Central Bank of Egypt’s (CBE) initiative to strengthen the banking sector’s developmental role and Egypt’s 2030 Vision. The forum's aim was to highlight the responsibility of banks in helping the country achieve economic development, while also bringing attention to various challenges and opportunities.
Seeing as real estate is considered to be one of the most vital sectors in the Egyptian economy, the forum commenced with recognizing the sector’s outstanding performance in supporting the country’s economy and its potential to partially solve the current economic challenges. This is made possible through real estate’s connection to various economic sectors and its ability to continue to grow against all odds.
CIB’s forum took place between 15-16 March, and it was held in the presence of numerous governmental officials, parliamentarians, and prominent individuals from the real estate, finance, and investment sectors. The forum was attended by more than 25 real estate developers, experts, and consultants.
Given the global challenges that this sector is facing, the forum worked on highlighting the various issues currently present in the real estate world and possible effective and realistic solutions. These solutions are set to be implemented through steadfast partnerships between the authorities and institutions that took part in the forum.
The first proposed solution was to improve the sector’s environmental activity and enrich its incentive tools, making it more attractive to investors. The second proposed solution aimed to enhance the sector’s opportunities through regional and international competition, which can be implemented through a set of proactive solutions. The role of the Administrative Capital Company for Urban Development and their national real estate project were highlighted during the forum, and Eng. Khaled Abbas, the company’s Board of Directors Chairman, was recognized for his influential role in founding and leading the company.
CIB is currently in the process of creating a comprehensive and detailed draft of all of the discussed points and suggestions after presenting them to specialized institutions and entities. The contributions of these prominent individuals will aid to submit an inclusive recommendation to the authorities, which will help outline the steps needed to strengthen the sector’s role in facing current global challenges.
CIB is also in the process of organizing a second edition of the "CIB for Egypt & Beyond" forum, which aims to discuss the challenges and opportunities faced by other economic sectors.
Commenting on the forum, Mr. Amr El-Ganainy, Institutional Banking Chief Executive Officer (CEO) at CIB, said, “CIB plays a significant role in supporting the Egyptian economy. The bank is committed to carrying out research, studies, and communication between all economic and institutional representatives in various sectors in order to discuss, face challenges and embrace opportunities. Being one of Egypt’s largest and most interactive financial institutions, CIB serves various companies and institutions across all sectors. CIB is also committed to support the national economy in accordance with the CBE’s goal to improve efforts carried out by Egyptian banks, address current global challenges, and achieve Egypt’s 2030 Vision."
Cairo, March 15, 2023 — Commercial International Bank (CIB), Egypt’s leading private-sector bank, recently hosted its first economic forum titled “CIB for Egypt & Beyond,” which falls in line with the Central Bank of Egypt’s (CBE) initiative to strengthen the banking sector’s developmental role and Egypt’s 2030 Vision. The forum's aim was to highlight the responsibility of banks in helping the country achieve economic development, while also bringing attention to various challenges and opportunities.
Seeing as real estate is considered to be one of the most vital sectors in the Egyptian economy, the forum commenced with recognizing the sector’s outstanding performance in supporting the country’s economy and its potential to partially solve the current economic challenges. This is made possible through real estate’s connection to various economic sectors and its ability to continue to grow against all odds.
CIB’s forum took place between 15-16 March, and it was held in the presence of numerous governmental officials, parliamentarians, and prominent individuals from the real estate, finance, and investment sectors. The forum was attended by more than 25 real estate developers, experts, and consultants.
Given the global challenges that this sector is facing, the forum worked on highlighting the various issues currently present in the real estate world and possible effective and realistic solutions. These solutions are set to be implemented through steadfast partnerships between the authorities and institutions that took part in the forum.
The first proposed solution was to improve the sector’s environmental activity and enrich its incentive tools, making it more attractive to investors. The second proposed solution aimed to enhance the sector’s opportunities through regional and international competition, which can be implemented through a set of proactive solutions. The role of the Administrative Capital Company for Urban Development and their national real estate project were highlighted during the forum, and Eng. Khaled Abbas, the company’s Board of Directors Chairman, was recognized for his influential role in founding and leading the company.
CIB is currently in the process of creating a comprehensive and detailed draft of all of the discussed points and suggestions after presenting them to specialized institutions and entities. The contributions of these prominent individuals will aid to submit an inclusive recommendation to the authorities, which will help outline the steps needed to strengthen the sector’s role in facing current global challenges.
CIB is also in the process of organizing a second edition of the "CIB for Egypt & Beyond" forum, which aims to discuss the challenges and opportunities faced by other economic sectors.
Commenting on the forum, Mr. Amr El-Ganainy, Institutional Banking Chief Executive Officer (CEO) at CIB, said, “CIB plays a significant role in supporting the Egyptian economy. The bank is committed to carrying out research, studies, and communication between all economic and institutional representatives in various sectors in order to discuss, face challenges and embrace opportunities. Being one of Egypt’s largest and most interactive financial institutions, CIB serves various companies and institutions across all sectors. CIB is also committed to support the national economy in accordance with the CBE’s goal to improve efforts carried out by Egyptian banks, address current global challenges, and achieve Egypt’s 2030 Vision."
