Bank News
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Government plans to sell HHD to strategic investor
The evaluation process has estimated the HHD’s value at around EGP 20bn, while the current market capitalization of the company is about EGP 15.9bn.
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ALEXBANK signs with Network International to accelerate digital transformation
To provide a fully-fledged payment processing solution to support the bank’s digital transition.
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Dollar price in Egypt rises to LE48 up from LE42 last week
The price of the U.S. dollar in Egypt has risen by at least five pounds, surpassing LE47 according to the Masrawy website and reaching LE48 as per the Al-Sarf Al-Youm website.
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Egypt’s central bank to decide on key interest rates Thursday
Monetary Policy Committee (MPC) is scheduled to hold its penultimate meeting for 2023 on Thursday to review key interest rates.
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CBE receives nearly $1B from China Development Bank
The fund will finance the projects agreed upon at the BRI summit and the nine programs from the Africa-China Cooperation forum in 2021.
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AAIB Introduces New Savings Certificate With Market-Leading Return
The Arab African International Bank (AAIB) introduces a new savings certificate offering the highest investment return in Egypt's banking market, allowing customers a profitable saving opportunity for three years.
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CBE Offers New Instructions to Facilitate Use of Credit Cards Outside Egypt
The Central Bank of Egypt (CBE) has issued new instructions aimed at making it easier for citizens to use credit cards while traveling abroad.
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aiBANK named “Fastest Growing Bank in the Arab Region” by World Union of Arab Bankers
aiBANK emerged as the clear frontrunner, surpassing its peers and demonstrating its unwavering commitment to excellence.
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Egypt’s banking sector boosts micro-projects with $1.1bln in financing: Zulficar
According to Zulficar, the microfinance institutions increased their customer base by 2.03% to reach 4.6 million by the end of the Q2 2023.
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Citigroup: Egypt’s Geopolitical Position Could Catalyze New Financing in Coming Months
Investment bank Citigroup has expressed optimism towards Egypt's bonds.
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Etisalat and Egypt’s Second Largest Bank Back SuperPay FinTech
Banque Misr, one of Egypt’s largest banks and a leader in electronic payment solutions, has partnered with Etisalat Misr to introduce SuperPay.
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Egypt's GAFI, QNB sign MoU to promote investment
Egypt's General Authority for Investment and Free Zones (GAFI) signed a memorandum of understanding (MoU) with Qatar National Bank (QNB).
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New CBE Regulations for Easier Credit Card Use for Egyptians Travelling Abroad
The Central Bank of Egypt (CBE) introduces new rules to simplify credit card usage for Egyptians travelling abroad. The steps aim to curb misuse and enhance customer convenience.
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Egypt to Issue $500M in Samurai Bonds Next November
Egypt plans to issue Samurai bonds valued at $500M in November. Samurai bonds are issued in Japanese Yen by foreign borrowers on the Tokyo Stock Exchange.
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Egypt sets new rules on use of credit cards abroad
CBE issued new instructions on Tuesday to regulate the use of credit cards for transactions in foreign currencies abroad amid concerns of misuse.
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Afreximbank Offers Egypt Financing Worth $29 Billion
This gathering was part of the third "Belt and Road International Cooperation Forum" events and was attended by Dr. Rania Al-Mashat.
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The Central Bank of Egypt tightens controls on credit card use abroad
The Central Bank of Egypt has issued new directives to banks, limiting credit card cash withdrawals abroad. This comes amid concerns over misuse.
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Egypt issues MENA’s 1st sustainable Panda bonds at $500 mln
Egypt issued on Monday the first sustainable Panda bonds in the Middle East and North Africa at ¥3.5 billion ($500 million) with a yield of 3.5%.
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Banque Misr secures $234 mln loan from IFC to support Egypt’s MSMEs
Egypt’s state-owned Banque Misr has secured a $234 million loan from the International Financial Corporation (IFC).
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Egypt seeks to increase IMF loan to over $5 billion
Egypt is holding negotiations with the International Monetary Fund (IMF) to enhance its rescue program to over $5 billion, according to a report by Bloomberg News.