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Egypt Gets $6 M from IFC to Promote E-Payments

International Finance Corporation (IFC), a member of the World Bank Group, has announced $6 million investment in Fawry, Egypt’s leading electronic payment provider, in an effort to promote financial services and encourage economic development across the country. IFC’s investment will help Fawry embark on expanding its network of payment terminals across the country to make […]

IsDB, EIB to co-finance more projects in Africa, Southern Mediterranean Countries

The Islamic Development Bank (IsDB) and the European Investment Bank have discussed at meetings held in Luxembourg this week opportunities for co-financing new projects in Africa and Southern Mediterranean Countries. The meetings were held as an IsDB delegation, led by the Bank’s President, Bandar Hajjar, is visiting the European Investment Bank’s headquarters in Luxembourg. During […]

Morocco prepares cryptocurrency law

The Central Bank is preparing a law governing the use of cryptocurrencies in Morocco, which is expected to be submitted to Parliament by year’s end, a senior official said. The central bank is benchmarking and examining similar laws elsewhere, Hiba Zahoui director of Bank supervision said at a press conference. She declined to give details […]