Egyptian Chronicles: Seen in Cairo : Once a Credit Foncier Egyptien

Tuesday, May 23, 2017

Seen in Cairo : Once a Credit Foncier Egyptien

Location 35 Mostafa Kamel, El-Zawya El-Hamraa, Cairo Governorate, Egypt
Credit Foncier Egyptien

A new Downtown Cairo building discovery for me: The Credit Foncier Egyptien bank building or as it is known now as Arab international bank "AIB".

Built in 1903 in its current location, the Credit Foncier Egyptian or the Egyptian Credit Foncier bank was active till its nationalization in the 1950s.

Originally Founded by Karl Heinrich and Raphael Suares in 1880 in Alexandria, it predated the National Bank of Egypt "NBE" so yes it was the oldest and first bank in Egypt. Reading more about it the Credit Foncier Egyptien Banque represented the French interests whereas the NBE represented the British interest for dominance on the Egyptian economy then.

It is no secret that there has been a rivalry between the British and French on controlling the Egyptian economy since the 19th century.

Did not know that information was till I searched online thanks to Samir Rafaat and his valuable website.

According to Rafaat's extensive research, that neo-classical building was most probably designed by the famous Miksa or Max Hertz, the Hungarian architect whom Islamic Cairo owes him a lot.

Thankfully the AIB is doing a great job in keeping the building in a very good shape, excellent shape actually.

Via: Instagram 
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