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UAE banks look to Suez Canal projects

06UAE banks are seeking to obtain the largest share in the financing of projects in the Suez Canal region after the opening of the new canal.

Sahar El-Damati, deputy managing director and CEO of the risk management sector of the Emirates National Bank of Dubai, asserted that the bank is ready to finance any projects offered for the development of the Suez Canal Axis. He added that it has the sufficient liquidity to invest in those projects, in both local and foreign currencies.

She explained that Emirates NBD is not targeting specific sectors to finance. It was, in fact, “targeting all kinds of projects as part of its confidence that all the projects to be offered for the development of the Suez Canal Axis will be essential and basic for the Egyptian economy’s development”.

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