The Bank started its activities in Feb. 1985 at the time when the economic arena was characterized by major developments, a matter which gave the bank's mission special significance, as Egypt was suffering at that time from great pressures on its balance of payments. This was apart from the rising deficit of the balance of trade. Consequently, the external debt problem started to represent a sort of concern to the Egyptian economy in all its sectors.
The Bank was founded as a financial institution to boost Egyptian exports. The export development issue is not only an economic policy to cope with the balance of payments problem, but also represents a strategic trend for development policies in a global economy that gets closer and integrated every day. Accordingly, the export sector is a crucial propeller for modernization and development. There are various examples of many small and medium size countries in which the export sector played a significant role in developing their economies.
The National Investment bank has been established according to law no. 119 for the year 1980 with the purpose of financing the government's projects listed in the general plan for economic and social development through equity participations in those projects, providing the required finance needed to implement them, and follow up on the implementation.
The duty of the bank extends to set the basis for financing according to article (2) of the law of establishment of the bank.
Misr Life Insurance is the largest life insurance company in Egypt, Africa and the Arab world. Established in July 2010 the company is the product of the merger of the life insurance activities of the oldest and largest insurance companies in Egypt owned by the state being Misr Insurance Company, Al Chark Insurance Company, Al Ahlia Insurance Company & The Egyptian Reinsurance Company.
NBE is the oldest commercial bank in Egypt. It was established on June 25, 1898 with a capital of £ 1 million. Throughout its long history, NBE's functions and roles have continually developed to square with the different economic and political phases in Egypt. During the 1950s, NBE assumed the central bank's duties. After its nationalization in the 1960s, it acted as a pure commercial bank besides carrying out the functions of the central bank in the areas where the latter had no branches. Moreover, since mid-1960s, NBE has been in charge of issuing and managing saving certificates on behalf of the government.