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Raya Is in Talks With NBE on $30 Million Loan, Al Mal Reports

Raya Holding Co., an Egyptian information technology company, is in talks with National Bank of Egypt about a loan of 183 million Egyptian pounds ($30 million), Al Mal reported, citing Sherif Riad, NBE’s head of corporate banking.

The seven-year loan would help to finance Raya’s 311 million-pound administrative building, which is under construction on the outskirts of Cairo, the newspaper said.

Raya’s chief investment officer, Karim Hassan, wasn’t available for comment.

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