Riyadh
Al Baraka Bank(SAUD)clarified, in a statement sent to the Egyptian Stock Exchange (EGX), what was published in a newspaper titling “Al Baraka Bank to launch a digital bank, signs with expertise house for required study”. The bank said it’s already signed with a house of expertise to prepare the study for establishing a digital bank, adding, it decided to increase the capital to EGP 5 billion through 3 years abiding by the Central Bank of Egypt’s (CBE) new act. The bank injected EGP 1.7 billion joint funding to the national projects aiming to reach EGP 5 billion in 2023, as well as it will provide in principles 100 Automated Teller Machines (ATM), targeting to reach 200 ATMs during the upcoming period.—Reuters/Zawya
