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Frequently Asked Questions

  • Yes guests are allowed provided they are accompanying the cardholder on the same flight.
  • Each guest will be charged by $32 per visit (to be paid at the lounge)

6 free access throughout the calendar year then every extra visit will be charged by $32 (it will be debited from the registered credit card)

No minimum spend required

Mutual funds and Certificates of Deposit (CDs) are two distinct investment options that differ in several key aspects, including structure, risk, returns, diversification and liquidity. below is a comparison:
  1. Investment Type
  • Mutual Funds: Mutual funds pool money from multiple investors to invest in a diversified portfolio of stocks treasury bonds or other securities. The value of your investment fluctuates based on the performance of the underlying assets.
  • CDs: A CD is a fixed-term deposit offered by banks and credit unions. You deposit money for a set period (e.g." 1 year 3 years etc.) and the bank pays you a fixed interest rate over that term. The principal is guaranteed and the interest is usually fixed.
  1. Return and Risk
  • Mutual Funds: These carry market risk because the value of the underlying securities can rise and fall. As a result" returns are variable and depend on the performance of the assets within the fund. Equity mutual funds tend to have higher potential returns but with greater risk whereas bond funds offer more stable albeit lower returns.
  • CDs: Generally considered low risk because your principal and interest are guaranteed by the issuing bank. However CDs face interest rate risk- if interest rates rise during the CD term your fixed rate become less attractive. The return is fixed and predictable but it is typically lower than the potential mutual fund earnings especially in a low-interest-rate environment.
  1. Liquidity
  • Mutual Funds: Generally liquid allowing investors to buy or sell shares daily. Some funds may offer weekly liquidity for entry and exit.
  • CDs: Funds are locked in until the maturity date. Early withdrawals may result in penalties such as losing some of the accrued interest and withdrawals are usually not allowed within the first six months.
  1. Diversification
  • Mutual Funds: Provide built-in diversification since the fund invests in a variety of securities helping to spread risk across multiple assets.
  • CDs: offer no diversification as the investment is concentrated in a single fixed-income product.

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Crédit Agricole Egypt Foundation, Schneider Electric, Gebal For Agriculture, Sustainability, And Livelihoods Signed A Memorandum Of Understanding To Launch Sustainable Development Projects

Cairo, Egypt, 4th of June 2023:Crédit Agricole Egypt Foundation and Schneider Electric joined forces with Gebal for Agriculture, Sustainability, and Livelihoods to launch sustainable development projects in Menoufia Governorate’s villages, Shubra Qubala and Mit El Qasri. These projects are addressing the water, food, and energy Nexus in these villages by installing greenhouses, fishponds, chicken incubators, irrigation pumps, and a compost unit for recycling agricultural waste all powered by solar energy.

Under the agreement, the three parties agreed to plan, design and execute sustainable community development projects in Shubra Qubala and Mit El Qasri villages in line with Egypt’s vision to preserve the environment, develop society, and empower women. These projects include greenhouses, fishponds, chicken incubators, and a compost unit for recycling agricultural waste, all powered by solar energy in Mit El Qasri village. Additionally, a women-operated greenhouse will be established, ensuring gender parity in these projects.

Commenting on the MoU, Sebastien Riez, Cluster President of Schneider Electric Northeast Africa & Levant, said: “Sustainability comes at the core of Schneider Electric’s culture and purpose. The cooperation with Crédit Agricole Egypt Foundation for Development to launch development projects in Menoufia Governorate will enable comprehensive support and effectively develop local communities. These projects shall also help combat climate change and use clean energy sources to make a positive impact and take sustainable measures to improve individuals’ standard of living, boost energy efficiency, reduce carbon emissions, and achieve sustainable development. We look forward to more successful partnerships in this field, on both government and private sector levels to support the country’s efforts within the framework of Egypt’s Vision 2030 and to contribute to creating a positive impact on local communities.”

Jean-Pierre Trinelle, Chairman of Crédit Agricole Egypt Foundation for Development and Managing Director, Crédit Agricole Egypt said: “We’re thrilled to collaborate with Schneider Electric and Gebal for Agriculture, Sustainability, and Livelihoods in an alliance that allows us to truly embody our ambition to empower unprivileged areas and contribute to combating climate change. This partnership is a testament to our commitment to leverage the expertise and resources of the two organizations to create sustainable solutions to benefit the largest number of beneficiaries.”

Trinelle added that by focusing on sustainability and leveraging this partnership with Schneider, the bank is actively pursuing its pledge to social and environmental progress while driving positive change within the communities it serves.

Mr. Jean-Pierre Trinelle and Mr. Sebastien Riez cordially invite the private sector and NGOs to join and contribute to the upcoming Community development projects, with the aim of scaling it up to encompass numerous underprivileged areas.