Kuwait okays renewing $4B deposit in Egypt

CAIRO - 29 April 2018: Kuwait has agreed in principal to renew its four-billion-dollar deposit in Egypt, Central Bank of Egypt (CBE) Governor Tarek Amer said on Sunday.

Egypt pays off all foreign dues on time, Amer said, adding that the government currently attaches great importance to diversifying the sources of external debt.

Amer made the remarks on the sidelines of the Arab Banking Conference for 2018 "Fintech Innovations and the Future of Financial Services" which is organized by the Union of Arab Banks.