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The Company was established
Under the law no.21 of the establishment of
The export credit guarantee
Company of Egypt (ECGE)
The purpose of the company
shall be mainly to encourage and promote Egyptian export
and contribute toward strengthening the agricultural,
industrial, commercial and services export sectors,
through the guarantee of the export operations of
national commodities and services against commercial and
non-commercial risks be determined by the guarantee
policies approved by the company's board of directors
The company shall have the right to undertake the
different aspects of all activities regarded as
complementing or connected with the main purpose of its
establishment
The company, toward achieving its purpose, may
participate in or contribute, in any form, to national
or foreign organizations, establishments, or companies
exercising activities similar to, complementing, or
connected with the company's activities, or which are
bound to result in its realizing its purpose whether
locally or aboard. The company may also purchase them or
participate in their establishment.
Capital
The company's Authorized Capital shall be fifty
million pounds, while the Issued Capital shall be ten
million pounds distributed over one hundred thousand
shares of equal value, the value of each share thereof
being one hundred Egyptian pounds. The Founders have
subscribed to the company's Issued Capital in full, as
follows:
- Export Development Bank of Egypt
- National Investment Bank
- Misr Insurance Company
- Al-Chark insurance Companys
- Egyptian National Insurance Company
The founders shall pay one
fourth of the nominal value of the shares subscribed to
within thirty days from the date the present law comes
into force, providing that the remainder of the value of
shares be settled within three years from that date, at
the latest, at the times and in the way to be determined
by the board of directors. |
