E. Moriya / Flickr CC

A number of local institutions and banks have launched “Avans Manara” fund to invest in funds supporting the small and medium enterprises (SMEs).

The participating banks are Banque Misr, National Bank of Egypt (NBE), Banque du Caire, Ahli United Bank, Suez Canal Bank, United Bank, and Attijariwafa Bank, in addition to the Misr Insurance Holding Company and Avans Capital Group.

This comes within the framework of the CBE’s directives to support SMEs, because of their importance to the national economy and their clear role in economic development and generating jobs.