Sawiris plans Luxembourg-based specialist bank
CAIRO, March 8, 2016
Egyptian billionaire businessman Naguib Sawiris plans to invest 50 million euros ($55 million) to set up a bank in Luxembourg specialising in services for small and medium-sized businesses.
Sawiris told reporters on the sidelines of a conference in Cairo that he had submitted an application to establish the proposed bank but provided no further details other than his proposed initial investment. – Reuters