Al-Arab hails Egypt banking sector

The chairperson of the Union of Arab Banks, Hisham Ezz al-Arab, has claimed that Egypt's banking sector is strong enough to deal with mounting challenges. Al-Arab, managing director of Commercial International Bank (CIB), explained that the Ministry of Finance is drafting new financial policy to solve the country's economic crisis without turning to the International Monetary Fund (IMF). The union chief said that Egypt's banking sector could provide the necessary liquidity to pave the way for developing the various sectors of production. He hailed the support of Egypt's export sector as one of the main sectors that provides the country with the hard currency. Al-Arab called for more to be done to support the business community in Egypt in the near future.