Tuesday 31/March/2026 – 07:29 PM
International lawyer Khaled Abu Bakr confirmed that leaking details of major companies’ dealings with banks is unacceptable, noting that this privacy represents a fundamental pillar of credibility and protection of investments.
These statements came in response to talk about the incident of businessman Mohamed Al-Khashin and his default in repaying 40 billion pounds of debt to Egyptian banks, where Abu Bakr stressed the need to respect investors and their families to ensure an attractive and real investment environment.
Praise for the discipline of the Egyptian banking system and the confidence of the business community
Abu Bakr explained that borrowing by companies and governments globally is a normal procedure, giving the example of a company that may be valued at 100 billion pounds and has debts of 20 billion.
He warned that publishing borrowing details inaccurately or exaggeratedly affects the overall value of projects, stressing that protecting investment in Egypt is a national mission that falls on every citizen.
Khaled Abu Bakr praised the strict discipline enjoyed by the Egyptian banking system, emphasizing the banks’ precise knowledge of the paths of every pound that is financed, which is something recognized in the business community in Egypt and the Arab world.
He called on everyone to have complete confidence in the banking sector, considering that maintaining the confidentiality of financial data is an integral part of the stability of the economic climate.
These statements come to enhance discipline in the circulation of financial information and avoid harming the reputation of major economic institutions.
