Bank News
-
Egypt's banks set for four-day holiday to celebrate Moulid El-Nabi
The Central Bank of Egypt (CBE) announced on Wednesday a four-day holiday for banks, starting 28 September, to celebrate the Moulid El-Nabi.
-
CBE governor participates in 47th session of council of Arab central banks
Fruitful discussions regarding the organization of specialized banking forums in Egypt, Tunisia, and Qatar were held during the session.
-
IMF Economic Review for Egypt Delayed to Q1 2024
This reluctance stems from the significant inflation rates and concerns about the economic and social repercussions such a decision might have.
-
CBE to decide on interest rate on September 21
The Monetary Policy Committee of the Central Bank of Egypt is scheduled to hold its sixth meeting for 2023 on September 21 to discuss interest rates.
-
Egypt extends registration deadline for AIIB meetings to 15 September: Finance minister
Egypt's Ministry of Finance announced the extension of the registration deadline for the Eighth Annual Meetings of the Asian Infrastructure Investment
-
World Bank appoints Stephane Guimbert new country director for Egypt
The World Bank has appointed Stephane Guimbert as the new country director for Egypt, Yemen, and Djibouti, effective 1 August.
-
Sisi to attend AIIB meetings in Egypt's Sharm El-Sheikh: Finance Ministry
Egypt's President Abdel-Fattah El-Sisi is scheduled to attend the inauguration of the Asian Infrastructure Investment Bank (AIIB) meetings.
-
Egypt races to meet IMF requirements ahead of September scheduled review
As the second review of the International Monetary Fund's (IMF) $3 billion loan agreement with Egypt draws nearer.
-
Egypt’s currency expected to be devalued after presidential elections
Egypt’s domestic debt increased by eight percent in the first quarter of 2023 to reach LE6.86 trillion ($222.18 billion).
-
National Bank of Egypt inks $100 mln loan deal to fund imports from UAE
The National Bank of Egypt (NBE) has sealed a deal to secure $100 million from the Abu Dhabi foreign aid agency to fund Egyptian exports from the UAE.
-
At least 15% of Banque du Caire shares to be offered for sale at $1 mln
Banque du Caire offers dollar savings certificates, or the Primo certificate in US dollars, with a return of up to 5.15 percent annually.
-
IMF allegedly to delay upcoming loan review again, might mean EGP devaluation
The source stated that the delay could indicate another devaluation of the EGP before the end of 2023.
-
Afreximbank establishes main headquarters in Egypt's New Capital
Afreximbank's headquarters in the New Capital will be added to the seven others it has on the continent.
-
Egypt’s total foreign assets recorded at LE 1,475B, CBE
Net foreign liabilities rose to LE 2,287 billion in July, compared to LE 2,275 billion in June, the CBE reported in its release.
-
Cabinet announces upcoming issuance of Samurai bonds
The Samurai bonds are yen-denominated bonds issued in Tokyo by non-Japanese firms and run under Japanese regulations.
-
Egypt aims to increase portfolio with Asian Infrastructure Investment Bank to $40 bln
Egypt is looking forward to expanding the cooperation portfolio with the Asian Infrastructure Investment Bank to $40 billion covering 220 projects.
-
President al-Sisi ratifies revocation of laws related to some banks
President Abdel Fattah al-Sisi on Sunday ratified law no. 170 of 2023 on the revocation of laws related to the establishment of some banks.
-
$6M loan granted to support young Egyptian entrepreneurs under EBRD’s YiB program
EBRD’s Youth in Business Program (YiB) is dedicated to supporting privately owned microenterprises or young entrepreneurs under the age of 35.
-
Islamic finance in Egyptian market exceeds EGP 600bn in 1H 2023: El-Beltagy
El-Beltagy added in a report issued Tuesday, that the volume of Islamic banking accounts for 5% of the Egyptian banking market.
-
Egypt enables companies to issue multiple sukuk with single regulatory approval
Companies in Egypt can now issue multiple sukuk with single approval from the Financial Regulatory Authority (FRA), according to the recent amendments