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Egypt tycoon Sawiris plans to set up Luxembourg-based specialist bank

[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]
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)

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

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Reuters, Cairo

Published: Updated:

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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