Banking & Finance

IITFC grants US$265 million loan to Egyptian oil firm

islamic development bankThe International Islamic Trade Finance Corporation (IITFC), a branch of the Islamic Development Bank, has provided funds worth US$265mn to Egyptian General Petroleum Corporation (EGPC)

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Bank of China steps up activity in Uganda

bankofchina  Laure WayaffeThe Bank of China has increased its activities in Uganda by establishing a partnership with a local bank and has plans in place to open up special desks in the country to deal with traders going to China

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Standard Bank may sell 60 per cent stake of UK commodities to ICBC

Standard Bank wikiSouth Africa's Standard Bank may sell 60 per cent of its UK commodities and foreign exchange trading businesses to the Industrial & Commercial Bank of China (ICBC) for at least US$600mn

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Barclays Zimbabwe launches fraud monitoring system

Image source: Wikimedia Commons/Kolekcjoner-AD.Barclays Bank of Zimbabwe Ltd has introduced automated fraud detection and monitoring systems for international and local debit cards, according to the company’s managing director, George Guvamatanga

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Standard Chartered Bank Zambia in expansion project

Standard Chartered BankStandard Chartered Bank Zambia is set to invest more than US$2.8mn to expand its footprint in Zambia, according to information obtained from the financial institution

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