Egypt broaches idea of tapping Indian financial markets 

CAIRO: Egypt discussed with India’s ambassador to Egypt the possibility of entering Indian financial markets, Egypt’s finance ministry said in a statement on Tuesday. 

“The two sides discussed ways to encourage the use of national currencies to settle payments,” in a meeting between Egyptian Finance Minister Mohamed Al-Maait and Ambassador Ajit Gupte, the statement said. 

Egypt was keen to diversify funding sources and enter new financial markets, including “the possibility of heading to Indian financial markets,” the statement quoted Maait as saying.