Arab Finance: Societe Arabe Internationale de Banque’s (SAIB) board of directors approved selling the bank’s entire stake of 8.53% in Pyramids Paper Mills (Flora), SAIB announced in a filing to the Egyptian Exchange (EGX) on August 21st.

The bank is finalizing the sale procedures, and the latest updates regarding this matter will be disclosed including all necessary details, SAIB added.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.