Bank News
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CBE to receive billion dollars from RSF in January
The billion-dollar loan will be repaid over 20 years, and Egypt will be granted a grace period of 10 and a quarter year.
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Egypt to witness 2.7% increase in remittance flows for 2022
The report said that this development may reflect a rebalancing of flows among host countries and regions.
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Egypt approves $271mln financing agreement with ADF
The financing will further help support the economic growth programme by raising agricultural productivity and sustainability.
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CBE grants preliminary approval to launch prepaid card Takka
Receiving CBE’s preliminary approval to launch Takka reflects confidence in ADIB-Egypt and ADI-Consumer Finance’s compelling brand portfolio.
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Saudi Arabia extends term for $5 bln deposit in Egypt's c.bank
Gulf states have deposited at least $13 billion with Egypt's central bank to support its economy so far this year.
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Kuwait extends maturity of $2 bln deposits to one year
The deposits were due to mature in April 2022.
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Egypt’s CBE launches financial inclusion strategy for 2022-25
CBE launched its financial inclusion strategy for 2022-2025 that sets key objectives and priorities for creating financial inclusion in the country.
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HD Bank’s consolidated profits jump 26% in 9M-22
The consolidated financial statements of the Housing and Development Bank (HD Bank) indicated a 26.40% growth in the bank’s net profits.
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World Bank discusses new cooperation phase with Egypt
Shaker noted that the strategic relations between Egypt and the World Bank bolstered the country’s efforts for transformation towards a green economy.
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Agricultural Bank of Egypt issues first eco-friendly credit card
The card was designed and produced in cooperation with VISA, G+D and i-Finance and is environmentally friendly.
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AFDB could have key role in offering Africa's priorities to int'l community
Maait's remarks came during his meeting on Wednesday with AFDB President Akinwumi Adesina, on the sidelines of COP 27.
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Suez Canal Bank net profits jump to EGP 735m in September 2022
This represents a growth rate of 95%, supported by an increase in net income from the return by 17%.
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Egypt’s Banque MISR receives $160m from The African Development Bank to finance SMEs
The loan consists of a $130 million credit facility from the bank and $30 million from Africa growing together fund (AGTF).
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Egypt’s annual inflation jumps to 16.2% in October
This surpasses the 15.7 percent mark registered in November 2018, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced.
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Egypt, World Bank discuss launch of country strategy 2023/2027
The World Bank's active portfolio in Egypt is composed of 14 operations for a net commitment amount of $6.83 billion.
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Al-Sisi, IMF Managing Director discuss bilateral partnership
Meeting comes within IMF Managing Director Kristalina’s participation in COP27 in Sharm El-Sheikh
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Egypt’s Central Bank issues binding regulations to accelerate transition toward green economy
The regulation encompasses several pillars, including the establishment of an independent department for sustainability and sustainable finance.
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Egypt’s net international reserves rise by $214 million in October
Egypt's net international reserves (NIRs) registered $33.4 billion in late October, an increase of $214 million over its volume in September.
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Egyptian Pound devalued to record low against the US Dollar
Bloomberg Economics estimates the pound needs to weaken to EGP 24.6 per USD 1 “to bring Egypt’s trade deficit to a reasonable level.”
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Egypt announces reaching $3 billion loan deal with IMF
Egypt has reached a 46-month staff-level agreement with the International Monetary Fund under the Extended Fund Facility with a loan worth $3bn.