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Hisham Ezz Al-Arab, CEO of the Commercial International Bank (CIB) Egypt, has addressed misconceptions regarding banks restricting outbound money transfers, describing them as inaccurate. In an interview with "CNN Business," Ezz Al-Arab clarified that any existing limitations are strictly dictated by funding regulations, credit limits, and sound risk management practices.
He emphasized that because banks operate using depositors' funds, they have a fiduciary duty to ensure clients' repayment capacity and to manage financing portfolios securely. Ezz Al-Arab further highlighted that some companies submit inconsistent financial statements—providing different sets of accounts for tax authorities and for banks—which complicates the credit assessment process and hinders their ability to secure financing.