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Egypt - Orient Takaful Insurance Company won the insurance policy to cover assets of Crédit Agricole Egypt (CIEB), according to Amwal Alghad.
The document will cover all the bank assets and ATM machines against the dangers of fire and burglary for one year, the sources added.
The ordinary general assembly of Crédit Agricole will discuss the EGP 3.75 billion capital raise during its meeting at the end of June.
The bank will increase its issued and paid-up capital to EGP 5 billion from EGP 1.24 billion.
Launched in 1996 and listed on the EGX in 2006, Crédit Agricole has subsidiaries operating across Egypt, working on commercial and professional services, in addition to thrifts and mortgage finance.
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