Under the umbrella of the Financial Institutions Group "FIG" the Correspondent Banking Department role is to manage the Bank's business with both the local and international financial institutions. It also manages a number of specialized trade finance programs, and finance trade transactions with international forfeiting houses taking advantage of the Bank's specialized knowledge of the Egyptian market, as well as the Group’s wide presence in the market. Relationship with Rating Agencies also falls under the FIG umbrella.

FIG mission is to support the Bank’s goal to be a distinguished leader in Egypt providing the highest quality, integrated solutions for our clients' global needs based on the following:

• A leadership role in Egypt
• An extended branch network
• Excellent technological capabilities
• Comprehensive banking services

Relationship with Correspondent Banks
FIG role is to promote strategic alliances with prime financial institutions around the globe. Said role is mainly focused on managing and expanding Crédit Agricole Egypt’s both foreign and local correspondent banking network in order to accommodate the bank's business growth and to market for the global products provided by the Group (Credit Agricole).  A large portion of Crédit Agricole Egypt’s assets are booked on the strength of financial institutions limits extended to accommodate the business needs of Treasury, Corporate, Private Banking and Crédit Agricole Egypt Branch Network. FIG maintains strong relationships with around 200 banks worldwide, among which we extend facilities to around 115 banks.

Click here to review Crédit Agricole Egypt correspondent banks list

Banking Services

FIG through very competitive international banking service agreements maintained with our Correspondent Banking Network is always able to provide a first class service quality to our customers in all banking areas, such as Check Collection, Money Transfer, Documentary Credits...etc

Problem Solving

The banking business and the involvement of more than one party, normally result in different operational problems. One of the main roles of the FIG is to effectively interfere to solve these problems to ultimately protect the interest of Crédit Agricole Egypt client.

Trade Finance Programs

FIG succeeded to have Crédit Agricole Egypt a participant in the most important trade finance schemes in the market the most important of which are US AID and KFW.

Forfeiting

FIG manages to finance several trade transactions with international forfeiting houses taking advantage of the Bank’s specialized knowledge of the Egyptian Market.

Local Syndication

Moreover, a Local Corporate Syndication unit was established under the umbrella of the Financial Institutions Department during the first quarter of 2005 to look after this business field.

Rating Agencies

Egypt being situated in a vulnerable region, the investors represented in either customers or financial institutions should rely on a guaranteed mean by which they could ensure the safety and success of their investments. Said objective could only be achieved via rating agents credit analysis, that provides an opinion on the ability of the Bank to meet financial commitments on a timely basis. FIG is intensely involved in the Bank’s rating procedures.