![[Window Title] Enter name of file to save to… [Content] Egyptian billionaire businessman Naguib Sawiris speaks to The Associated Press prior to the opening of a major economic conference seeking billions of dollars in investment, in Sharm el-Sheikh, Egypt, Friday, March 13, 2015. (AP) The file name is not valid. [OK]](https://vid.alarabiya.net/images/2016/03/08/281fc1b5-c966-4004-bfa3-e99c760a19d3/281fc1b5-c966-4004-bfa3-e99c760a19d3_16x9_1200x676.jpg?width=372&format=jpg)
Egypt tycoon Sawiris plans to set up Luxembourg-based specialist bank
Sawiris told reporters on the sidelines of a conference in Cairo that he had submitted an application
Egyptian billionaire businessman Naguib Sawiris plans to invest $55 million to set up a bank in Luxembourg specializing in services for small and medium-sized businesses.
Sawiris told reporters on the sidelines of a conference in Cairo that he had submitted an application to establish the proposed bank but provided no further details other than his proposed initial investment.
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