Paymob, Egypt-based fintech Paymob, has obtained the retail payment services license from the Central Bank of the UAE (CBUAE) after fulfilling all regulatory requirements.

The House of Representatives has given its final approval to a draft law, submitted by the government, amending some provisions of Law No. 177 of 2018 on the establishment of The Sovereign Fund of Egypt for Investment and Development.

Alexandria Company for Pharmaceuticals and Chemical Industries’ board has approved the estimated budget for the fiscal year (FY) 2024/2025 with expected net profits after tax of EGP 377 million.

The House of Representatives has given its final approval on the country’s economic and social development plan for fiscal year (FY) 2024/2025.

The Financial Regulatory Authority (FRA) has approved to publish the disclosure form regarding the approval of Alexandria Container and Cargo Handling Company’s board to increase the company’s authorized capital and issued and paid-up capital.

The Central of Egypt (CBE) has given a preliminary approval to Misr Digital Innovation (MDI) company to launch the first digital bank in Egypt, under the name Onebank.

EFG Hermes ONE, the online trading platform of EFG Holding, has become the first financial platform in Egypt to receive approval from the Financial Regulatory Authority (FRA) to launch its digital onboarding (eKYC) process.

The cabinet has approved completing the procedures needed for signing agreements on the implementation of a 500-megawatt (MW) wind farm in the Gulf of Suez region.

The Egyptian cabinet has approved the presidential draft resolution on the consultative cooperation agreement to support the selection of investment plans for the sustainable green industry project, which is valued at €500,000 as a grant from the European Investment Bank (EIB).

The General Authority for Investment and Free Zones (GAFI) has accredited the request submitted by GV Developments to build Tarboul Industrial City.

Egyptian cabinet has ratified several resolutions, including the draft law on setting up a national ID database for real estate properties.

The cabinet has ratified a number of resolutions, including scaling up the efficiency of government spending and boosting state revenues amid the current economic crisis.

The Egyptian Exchange’s (EGX) listing committee has approved listing the increases in both authorized capital and issued and paid-up capital of EFG Holding.

The Financial Regulatory Authority (FRA) has approved publishing the disclosure form submitted by the Suez Canal Bank’s board to raise its issued and paid-up capital by EGP 400 million.

The Financial Regulatory Authority (FRA) has approved in principle the Export Development Bank of Egypt’s (EBank) invitation to major shareholders to subscribe to the remaining 651,787 shares of the rights issue at a nominal value of EGP 10 per share.