1. "This alliance with CIB Egypt will offer the NRE community in the UAE quick and easy access to banking in both countries.

2. Similarly, UAE nationals and foreign expatriates resident in the UAE and visiting Egypt will have access to ADCB‘s board spectrum of product and services." NREs will be able to open a savings or current account with ADCB and an NRE savings account with CIB, enabling them to manage their banking needs in both countries supported by value added features of online utility bill payment options.

3. Following are the key points of its annual report: – No change in key rates – Bank rate 6 pc, CRR 6.5 pc, repo 7.75 pc – GDP growth lowered to 8.5 per cent for 2007–08 – Inflation to be kept close to 5 per cent – Medium term inflation to be 4–4.5 per cent – Risk weight on home loans reduced – Risk weight on loans against gold, silver reduced – Money supply to be contained to 17–17.5 pc – Deposits to grow to Rs 4.' lakh crore – Interest rate cap on FCNR (B), NRE lowered by 0.5 pc – Overseas investment limit for cos raised to 300 pc – ECB prepayment level allowed up to USD 400 mn – Remittances abroad limit doubled to USD 100,000 mn – Working group on currency futures to be set up – Credit guarantee scheme for distressed farmers – NBFC deposit rate ceiling upped 12.5 pc

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