Accumulaions blamed for dollar crisis

The dollar crisis is the result of accumulations started in 2007 and exacerbated within the past five years, said Chairman of the Federation of Egyptian Banks Hisham Ezz el Arab.

This came during the Government Business Dialogue Conference held under the auspices of Prime Minister Sheirf Ismail. 

Entitled “How Investment Is Driven”, the conference aims to reach solutions to be adopted in order to unblock the current stalemate in business community through promoting an environment conducive to dialogue between the Government and investors. 

Ezz el Arab, who is also Chairman and Managing Director of the Commercial International Bank (CIB), said that coping up with updates require changes in laws. 

Talking about the Small and medium-sized enterprises (SMEs), Ezz el Arab said that the needs of the small and medium-sized industries are totally different than the needs of mega companies. 

Th SMEs need finance for short terms, he said