Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Chairman of the Board of Directors of the National Investment Bank, chaired the bank’s Board of Directors meeting, where the meeting discussed many important topics, including the bank’s financial statements, the estimated budget for the current fiscal year, and a discussion of the current position of the bank’s investments.
During the meeting, Dr. Rania Al-Mashat stressed the vital role played by the National Investment Bank as one of the main arms that the state relies on to support economic and social development efforts through government investments.
She explained that the bank has achieved great development over the past period, whether with regard to internal development, or settling financial interactions with various parties within the state, and that the state is working to move forward with the plan to develop and restructure the National Investment Bank, to maximize its role as one of the economic and investment arms that support… State development efforts.
She stated that the National Investment Bank succeeded during the last period in dissolving a large part of its financial entanglements with some institutions and was able to reach an integrated framework for settling its debt with the National Bank of Egypt for investment certificates.
She indicated that the bank has an ambitious future plan aimed at engaging in new activities that have a positive impact in consolidating the future cycle as one of the state’s important economic institutions, and that the state is continuing its efforts to develop the National Investment Bank to maximize the benefit from its development and investment role to enhance economic development efforts and increase the efficiency of investment spending.
During the meeting, the Board of Directors discussed the bank’s financial statements, which were approved for approval in the presence of the Central Auditing Organization’s auditors in the Banking Financial Supervision Division, the agency’s auditors in the Performance Evaluation Division, and the bank’s auditors.
The bank’s draft estimated budget for the fiscal year 2024-2025 was also approved, and the meeting also witnessed other topics related to the bank’s investments in subsidiaries, managing the assets owned by the bank in order to maximize its resources, and settling debts and financial interactions with other parties.
For his part, Ashraf Negm, Vice Chairman of the Board of Directors of the National Investment Bank and Managing Director, expressed his thanks and appreciation to Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Chairman of the Bank’s Board of Directors, for her support for the bank, praising the process of coordination and integration that is currently taking place between the bank and the Ministry. Planning, economic development and international cooperation in a way that works to quickly provide audited data to decision makers in the process of financing and following up on the implementation of the state’s plan for economic and social development.
