Bank News
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Federation of Egyptian Banks denies links to GRA platform
The Federation of Egyptian Banks (FDE) denied Thursday any connections or accounts between banks operating in Egypt and the GRA platform.
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Egypt central bank, Tanzania partner to strengthen African ties
This meeting underscores the strong historical ties between the CBE and other African central banks, particularly with the BOT.
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Egypt achieves 74.8% financial inclusion through strategic central bank policies
By the end of 2024, this equated to approximately 52 million Egyptians managing their finances through banks, Egypt Post, wallet or prepaid cards.
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CBE February meeting: Will rates remain unchanged or does a cut await?
The CBE's latest calculation shows core inflation dropped to 22.6 percent in January 2025, down from 23.2 percent in December 2024.
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FABMISR’s net profit soars 153% to EGP 26.3bn in 2024
Loans surged 64% and deposits grew 29%, underscoring strong financial growth.
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Egypt, EBRD establish €10M fund to boost private sector involvement in infrastructure
Prime Minister Mostafa Madbouly emphasized that this agreement is a major step toward increasing private-sector engagement.
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Egypt CBE hosts FSB Regional Consultative Group meeting for MENA
Hassan Abdalla, governor of the CBE, and Ayman Alsayari, governor of the Saudi Central Bank (SAMA), led the event.
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CBE to offer a $1bn treasury bill tender on Monday
The Central Bank of Egypt (CBE) will offer a $1bn Treasury bill tender on Monday, using proceeds to repay a previous tender.
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Banque Misr launches instant money transfer service for Egyptian expats
Banque Misr has launched an instant money transfer service for Egyptian expats, enabling fast, 24/7 transfers to bank accounts, cards, or e-wallets.
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Egypt issues $2 bln in int’l bonds market, 1st time since 2021
Egypt has issued $2 billion in the international bonds market for the first time since 2021, marking a significant step in addressing its gap.
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Egypt secures largest EBRD investment with €1.5 bln for 7th consecutive year
The European Union pledged a 7.4 billion euro ($8.1 billion) aid and investment package for Egypt in March 2024.
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El-Sisi approves 50% increase in Egypt’s share of IMF
The law specifies that the increase in Egypt's contribution to the IMF comes with a reservation.
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Egypt to receive $1.2 bln from IMF in January
Egypt is set to receive a $1.2 billion disbursement from the International Monetary Fund (IMF) in January as part of its $8 billion programme.
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Egypt central bank sells $840 mln in USD-denominated T-bills
The Central Bank of Egypt (CBE) announced on its website that it sold $840 million in USD-denominated treasury bills (T-bills) with a 364-day maturity
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AfDB agreement to support private sector development program approved by Parliament
Al-Mashat explained that the main goals of the Private Sector Development and Economic Diversification Program are twofold.
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CBE raises withdrawal limits for financial inclusion
CBE kept the daily and monthly maximum limits for transactions on prepaid cards and mobile payment services as stated in November.
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Egypt unlocks IMF funds after fourth loan review
Since 2020, Egypt has been navigating economic challenges exacerbated by global disruptions, including the pandemic and rising inflation.
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CBE's December meeting: Will rates remain unchanged amid inflation decline?
HC Securities & Investments expected the CBE to keep the current interest rates unchanged despite recent inflation readings.
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Egyptian pound exchange rate declines by 0.33% to record 50.97 against US dollar
This is in line with the IMF’s fourth review to reach EGP 50.97/$1 for selling and EGP 50.83/$1 for buying.
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Egyptian pound climbs over EGP 51 against US dollar for 1st time since March
The US dollar reached its highest level on Monday against the Egyptian pound since March of this year, reaching EGP 51.14, according to the CBE.