The National Investment Bank (NIB) is currently undergoing a restructuring programme. The government announced the programme in 2018.
NIB Vice Chairman and Managing Director Ashraf Negm said in media statements released Wednesday by the Ministry of Planning and Economic Development that work is currently underway to restructure the bank as announced by the government three years ago.
Negm indicated that the aforementioned plan was drawn up by the committee responsible for restructuring the bank.
The plan was drawn up by experts and comes as part of structural reforms of the Egyptian economy, Negm said.
The restructuring plan focuses on scheduling the bank’s obligations during the coming period and strategies to resolve financial matters between the bank and government institutions, he said, adding that the bank is working on maximising the value of its assets so that it can play its role in the national economy.
Negm refuted rumours about the NIB’s liquidation, describing them as “untrue”.
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