Central Bank of Egypt says food major driver of December 2022’s inflation of 21.3%
Annual headline urban inflation recorded an average of 13.9% in 2022 compared to 5.2% in 2021
Hossam Mounir
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US dollar continues appreciation against Egyptian currency, exceeding EGP 29
The International Monetary Fund (IMF) stressed on Tuesday that the Central Bank of Egypt should commit to a flexible exchange rate that adapts to the dynamics of the balance of payments, avoid the re-accumulation of imbalances, and support competitiveness.
Dollar exchange at CBE increases by over EGP 0.50 on Monday
Dollar exchange records EGP 27.5538 for buying and EGP 27.6256 for selling
Microfinance increases to EGP 64.6bn in June 2022: CBE
Banks record EGP 48.3bn in mortgage finance for to 436,900 low, middle-income customers in September
US dollar exchange against EGP jumps 6.8%, government banks issue 25% saving certificates
Official price of US dollar at CBE rises to EGP 26.3633 for purchase and EGP 26.4853 for sale
Government to borrow EGP 1.055trn from local market in 3Q 2022/23
Ministry of Finance to launch 52 tenders of T-bills worth EGP 1.014trn and 30 tenders of bonds worth EGP 41.25bn from January to March 2023
CBE receives $1.03bn worth of bids for T-bills denominated in US dollar
Bank accepts 21 offers worth $850m with interest of 4.64-4.651%
Government to borrow EGP 1.055trn from local market in 3Q 2022/23
Ministry of Finance to launch 52 tenders of T-bills worth EGP 1.014trn and 30 tenders of bonds worth EGP 41.25bn from January to March 2023
Tamweely launches new app to enhance communication with customers
Application provides product information, financing applications
Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE
Facilities are concentrated in 17 sectors, with 6 sectors accounting for 74.6%
CBE studies using central bank digital currency
Central bank of Egypt forms work committees to examine CBDC usage in cooperation with several international bodies
Bank liquidity in Egypt increases to EGP 7.318trn in November 2022: CBE
Total deposits in local currency in banks increased to about EGP 5.346trn
Central Bank of Egypt to issue $850m US dollar-denominated T-bills on Monday
T-bills due on 2 January 2024
NBE arranges syndicated loan for $2.9bn oil refinery project in Upper Egypt
The National Bank of Egypt (NBE) announced on Wednesday that it has arranged the largest syndicated loan of its kind to Assiut National Oil Processing Company (ANOPC) to finance an oil refining project in Upper Egypt at an investment cost of $2.9bn. Hisham Okasha, Chairperson of NBE, said that the bank always keen on providing …
Egypt has third best banking system in Arab world in terms of assets, deposits, and loans: UAB
130% growth in Egyptian banking assets between August 2017 and August 2022, the most in any Arab banking system
Finance Ministry accepts less T-bill purchasing offers to avoid raising interest
Ministry accepts only EGP 48m worth of bids for 273-day T-bills
Outstanding balance of local T-bills, bonds reaches EGP 4.3trn in November 2022: Finance Ministry
Finance Ministry also offers Japanese-yen-denominated bonds worth of $500m in March 2022
CBE spots illegal foreign exchange trading schemes
$55m was withdrawn from Egyptian credit and debit cards abroad in one day
CBE extends two tourism support initiatives to March 2023
Initiative allows postponement of debt payment
CBE offers one-year incentives to support e-payments
Under new incentives, Egyptian pound-backed transactions made online will be exempted from all fees until December 2023
Al Baraka Bank offers EGP 90m to Solidarity Microfinance to support microenterprises by women
Bank is keen on developing role of women economically and socially: Chairperson Hazem Hegazy
CBE warns of misuse of bank cards, fraud to obtain foreign exchange without need for it
We monitored the use of some credit, debit cards in operations abroad, despite their holders being inside the country: CBE
Banks to discuss fate of interest rate on savings, loan products on Sunday
The market awaits the first reaction to return-on-debt instruments
CBE sets new inflation target until 2026
4Q 2024 inflation target stands at 7% (±2%), 5% (±2%) in 4Q 2026
Egypt’s Central Bank to decide on EGP’s interest in the last MPC meeting of 2022
The basic interest rate has been raised by 5% in 2022
CBE pushes for sustainable financing in banking sector
100% of Egyptian banks measure carbon footprint of their internal activities: CBE
CBE throws light on Egypt’s high inflation in November 2022
November’s high inflation was mainly caused by 27 October currency devaluation, continued repercussions of Russian-Ukrainian conflict
CBE reveals top indicators of financial safety for banks by end of 3Q 2022
EGP 93.4bn in net profits, top 10 accounted for 78.29%
MSMEDA, EU, AFD cooperate to develop informal settlements
Gamea praised the continuous cooperation between MSMEDA and the Ministry of International Cooperation in concluding agreements with various donors and international agencies to implement development projects that serve the Egyptian society.
EGP 14.596bn increase in the value of CBE’s gold balances by end of November 2022
According to the financial statements of the CBE, the bank’s total assets rose to EGP 3.699 trillion at the end of November, compared to EGP 3.480 trillion — an increase of EGP 219bn.