Imperialism and Multinational Banking

Egypt’s central position in the Middle East made it enviable among leading imperialist powers, with competition unfolding across cultural, diplomatic, and economic spheres. Furthermore, the Egyptian case is of exceptional interest within the region because of the interplay of several countries and numerous colonies of foreigners. The Italian community, second in number only to the Greek, was deeply integrated in the Egyptian economy and society, yet existing historiography has largely overlooked the consequences of this multinational coexistence. This book examines Italian economic initiatives in Egypt from the late nineteenth century to the Second World War, focusing in particular on the banking sector as the cornerstone of Italy’s economic strategy, both as a driver of investment and as a key instrument for broader economic expansion. Drawing on largely unpublished banking and diplomatic sources, the book traces the history of Italian banks in Egypt, from the first venture established in Alexandria in 1887 to the arrival of major Italian institutions in the early twentieth century. It explores both the ambitions and failures of Italian economic interests in a rapidly changing international context, exploring relationships between Western powers and Egyptian society during a period when growing nationalism would eventually force Britain to recognize Egyptian independence. It investigates projects by major Italian banks and the resident Italian community, analysing their links with other foreign colonies and the indigenous population. The book is primarily aimed at business history scholars, particularly those interested in multinational banking and financial history, but will also appeal to readers interested in imperial history, minority communities, and international relations generally.