Meeting Overview: Eng. Hani Salem Sonbol, CEO of ITFC, met with Egyptian Finance Minister Ahmed Kouchouk during his visit to Egypt to discuss Egypt’s economic reform plans and international investment.
Egypt’s Economic Reforms: Minister Kouchouk outlined Egypt’s comprehensive economic reform framework aimed at building investor trust by simplifying tax-related challenges and improving procedures for medium, small, and micro-sized enterprises.
ITFC’s Commitment: Sonbol reaffirmed ITFC’s dedication to supporting projects that promote sustainable development in Egypt and align with global sustainable development goals.
Jeddah, September 8, 2024 — Eng. Hani Salem Sonbol, the CEO of the International Islamic Trade Finance Corporation (ITFC), recently held a significant meeting with Ahmed Kouchouk, Egypt’s Minister of Finance, during his official visit to the country. The discussion, which took place on the sidelines of Sonbol’s visit, centered around Egypt’s ongoing economic reform strategies and the role of international partnerships in fostering growth and sustainability.
Minister Kouchouk provided a comprehensive overview of Egypt’s ambitious plans to build trust and confidence among both domestic and international investors. Central to these plans is a broad economic reform framework designed to address and simplify numerous challenges faced by the tax community. This framework aims to streamline executive procedures for medium, small, and micro-sized enterprises, as well as service providers, with the overarching goal of enhancing the efficiency and effectiveness of the business environment across all sectors.
In response to these developments, Eng. Sonbol expressed ITFC’s strong commitment to supporting Egypt’s economic transformation efforts. He emphasized the organization’s dedication to funding and facilitating projects that drive comprehensive and sustainable development in the region. Sonbol reiterated ITFC’s alignment with the global objectives of sustainable development and its eagerness to contribute to Egypt’s economic progress through targeted and impactful investments.
The meeting underscored the importance of international collaboration in achieving economic reform goals and highlighted ITFC’s role in advancing Egypt’s development agenda. Both parties expressed optimism about the potential for continued cooperation and mutual support in the pursuit of sustainable growth and economic stability.