Arab African International Bank
Encyclopedia
The Arab African International Bank (AAIB) is an Egypt
ian financial institution.
It was established in 1964 by the President of Egypt
. AAIB is Egypt
's fastest growing bank in terms of size and profitability. AAIB was established as a joint venture between the Central Bank of Egypt
and Kuwait Investment Authority
.
The Bank's growth was given further impetus in 2008 with the establishment of new subsidiaries: Arab African Investment Holding, Arab African Investment Management and the acquisition of a major stake of Al Borak brokerage firm. AAIB is a major contributor to the Egyptian debt capital market with a powerful role in structuring, managing, book-running and successfully closing syndicated loans. This has further consolidated AAIB’s core competency in investment and corporate banking and bond markets.
Regional expansion is another pillar for AAIB’s growth strategy; the bank led a number of major syndications in the fields of infrastructure and construction, which has further strengthened its position as a leading investment bank in the region.
Besides its core corporate competency, retail innovation is another focal point for AAIB; with only 10% of Egypt’s population dealing with banks, AAIB sees retail as a viable growth area and a fertile field for introducing innovative products and services to the market. AAIB is the first to introduce credit cards to Egypt in the eighties and the chip technology in 2003 through its capacity as both issuer and acquirer. AAIB owns more than 45% of the market share in GPRS points of sale due to an early focus on the segment of merchants who have benefited from the technology provided by AAIB.
In 2007, AAIB launched its foundation for social development, We Owe it to Egypt. Although established by the bank, its scope and objectives extend far beyond the bank’s identity with its primary goal to enact a nation-wide initiative that inspires and mobilizes the corporate sector towards making a fundamental and positive difference in the fields of public health and education in Egypt.
the arab african international bank is located in 5 midan Al-Saray Al kobra Garden city - cairo - egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
ian financial institution.
It was established in 1964 by the President of Egypt
President of Egypt
The President of the Arab Republic of Egypt is the head of state of Egypt.Under the Constitution of Egypt, the president is also the supreme commander of the armed forces and head of the executive branch of the Egyptian government....
. AAIB is Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
's fastest growing bank in terms of size and profitability. AAIB was established as a joint venture between the Central Bank of Egypt
Central Bank of Egypt
The Central Bank of Egypt is the central bank of Egypt. The bank's paid-up capital is 1000 million Egyptian pounds. According to its website, the CBE:*Regulates banks and the banking system of Egypt...
and Kuwait Investment Authority
Kuwait Investment Authority
The Kuwait Investment Authority is Kuwait's sovereign wealth fund , managing body, specializing in local and foreign investment...
.
The Bank's growth was given further impetus in 2008 with the establishment of new subsidiaries: Arab African Investment Holding, Arab African Investment Management and the acquisition of a major stake of Al Borak brokerage firm. AAIB is a major contributor to the Egyptian debt capital market with a powerful role in structuring, managing, book-running and successfully closing syndicated loans. This has further consolidated AAIB’s core competency in investment and corporate banking and bond markets.
Regional expansion is another pillar for AAIB’s growth strategy; the bank led a number of major syndications in the fields of infrastructure and construction, which has further strengthened its position as a leading investment bank in the region.
Besides its core corporate competency, retail innovation is another focal point for AAIB; with only 10% of Egypt’s population dealing with banks, AAIB sees retail as a viable growth area and a fertile field for introducing innovative products and services to the market. AAIB is the first to introduce credit cards to Egypt in the eighties and the chip technology in 2003 through its capacity as both issuer and acquirer. AAIB owns more than 45% of the market share in GPRS points of sale due to an early focus on the segment of merchants who have benefited from the technology provided by AAIB.
In 2007, AAIB launched its foundation for social development, We Owe it to Egypt. Although established by the bank, its scope and objectives extend far beyond the bank’s identity with its primary goal to enact a nation-wide initiative that inspires and mobilizes the corporate sector towards making a fundamental and positive difference in the fields of public health and education in Egypt.
the arab african international bank is located in 5 midan Al-Saray Al kobra Garden city - cairo - egypt