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Egyptian Gulf Residents Can Soon Transfer Money to Egypt via InstaPay

Transfers will be exclusively received in Egyptian pounds, with fees determined by individual banks based on the currency and country of origin.

Egypt’s Central Bank embarked on a rare privatization journey by putting 30% of United Bank up for grabs – only the second such sale in four years.

The EBRD facility will help cover up to 50 per cent of the credit risk on as much as €50 million in financing for Egyptian SMEs originated by CIB.

Fitch Ratings has raised the Long-Term Issuer Default Ratings (IDRs) of the largest four banks in Egypt following the recent upgrade.

In contrast, the value of remittances from G20 workers in Egypt amounted to about $215.6 million during the fiscal year 2022/2023.

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