This public offering follows the CBE's announcement in September regarding plans to sell a portion of its shares in the United Bank on the EGX.
Earlier this week, the Central Bank of Egypt (CBE) – which owns 99% of United Bank – announced that it would be offering a stake in the bank’s shares prior to its IPO during Q1 2025.
Soliman’s resignation was somewhat expected, with one source stating that the government was looking to introduce fresh faces into key positions as part of a broader reshuffle
The newly-launched EGX33 index, consisting of 33 selected companies from various sectors listed on the EGX, adheres to a methodology approved by the Shariah Supervisory Committee
El Said, speaking at the Joint annual meeting of the Arab financial institutions in Cairo, mentioned that the government is presently engaged in evaluating offers and intends to make a selection soon