Senate opens restructuring debate on Egypt's National Investment Bank

Egypt's Senate has discussed restructuring the National Investment Bank, with the planning minister defending its role and a lawmaker proposing a five-point reform plan.

• The Senate convened a plenary session to discuss converting the National Investment Bank into a development arm.
• Planning Minister Ahmed Rostom said the bank plays a pivotal role in governing public investments and directing resources.
• Rostom stated an integrated electronic link between the planning and finance ministries and the bank was activated over the past four months.
• Senator Essam Khalil, head of the Free Egyptians Party, proposed five reform axes and stated about 95 percent of the bank's historical financial entanglements, worth roughly 401 billion pounds, were settled.