Egypt: Sisi Review Efforts to Provide Foreign Exchange, Banking Sector Activities

President Abdel Fattah Al Sisi chaired on Tuesday 26/5/2015 a meeting attended by the Central Bank of Egypt (CBE) Governor Hisham Ramez.

Presidential spokesman Alaa Youssef said that Ramez briefed the President on the current economic situation, particularly efforts to provide the necessary foreign exchange to secure the citizens' needs on the occasion of the holy month of Ramadan.

Ramez said that the actions taken by the CBE on the exchange rate contributed to an increase in the dollar supply at the Egyptian banks.

Remittances from Egyptians expatriates became within the formal banking system of Egypt, he added.

Ramez also briefed the President on the activities of the banking sector and its role in providing employment opportunities and promoting the business movement and the investment financing, that contribute to supporting the Egyptian economic capability, especially in light of the remarkable growth in direct foreign investments in Egypt in various sectors.