NBE, Banque Misr collect EGP 45.4bn in 10 days from certificates
Banque du Caire attracts EGP 3.3bn and 5 banks to raise interest rates under government protection to investment certificates
Hossam Mounir
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Latest by Hossam Mounir
Presidential decree reshuffles CBE board
Gamal Negm’s position as first Deputy-Governor was renewed, Lobna Helal returns to CBE as second Deputy-Governor
Presidential decree reshuffles CBE board
Gamal Negm, Lobna Helal appointed as Deputy Governors
CBE regulates exporting rice
New decision by the bank lists rice among the commodities that should be exported through Egyptian banks
€1.142bn offered investments in Egyptian treasury bills
The CBE accepted €732.2m out of this liquidity
Banking Institute, Cairo Chamber of Commerce sign MoU to train SMEs sector
Training banking staff will develop banking work in a manner that suits requirements of this age
Portfolio funds in ADIB-Egypt rise to EGP 10.7bn
Bank’s reports reports growth of 20% in first nine months of 2015, compared to same period of 2014
CBE offers treasury bills worth €700m
New tender to be issued for payment of old bills offered on 18 November
Intensive efforts by Egyptian government, banks to spread payroll service
Payroll enhances sustainable development, government is currently working to achieve financial inclusion, says Assistant Minister of Planning
NBAD targets 60% profits growth, 30% loans, 25% in deposits by year-end: NBAD-Egypt CEO
Egypt is among top five markets in which NBAD provides all banking services
Dollar fixed for second time after CBE’s 20 piaster devaluation
Anticipating the central bank’s next move is difficult, says banker
Visa, Egyptian government cooperate to promote tourism, stimulate e-commerce: MENA General Manager
North Africa region witnesses the most cooperation between Visa and its states’ governments, says Ayoub
Egypt has high-level technological innovation, UAE leads field: UNB CEO
Middle East Banking Forum continues path towards achieving quality and excellence in Egypt’s UNB bank through regularly held conferences, says Abdeen
Fawry supports government’s efforts to develop cashless community: Sabry
The company is preparing to launch new services and access 17 million users
5 banks represent UAE in Egyptian market
Five UAE banks currently operate in the Egyptian market; Emirates NBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank, and Mashreq.
UAE Banks Federation hosts third annual ME Banking Forum
The forum is held in cooperation with the Financial Times Live, and The Banker, under the sponsorship of Daily News Egypt
NBE, Banque Misr collect EGP 28bn within 5 days, expected to increase
Both banks attracted liquidity from outside banking sector, dollar selling operations to subscribe in both, says NBE Chairman
CBE to cover 25% of banks’ temporary credit facilities granted to importers in foreign currencies
Banks are obliged to deposit the amounts the will obtain with the CBE, with interest
Official instructions on converting importers’ debts not yet received: Banks
A prominent banker told Daily News Egypt that banks operating in the Egyptian market have not yet received any official or written instructions to convert the debts of their importing clients from dollars to Egyptian pounds.
EAEF to increase investment in Egypt to $1bn over 3 years
The Egyptian-American Enterprise Fund (EAEF) targets increasing its investments in the Egyptian market to $1bn, according to the fund’s board member Hani Sarie-Eldin. The fund recently acquired a 20% stake of Fawry for e-payments. The deal was worth $20m. Sarie-Eldin said another deal was signed days ago at a cost of $65m, however refusing to …
CBE maintains dollar at EGP 7.83
Dollar was devaluated by 20 piasters on Wednesday
Fawry allocates EGP 20m to electronic commerce sector
By Mohamed Alaa El-Din and Hossam Mounir Fawry Company will allocate EGP 20m for investments in payment solutions for the electronic trade sector in the upcoming period, company CEO Ashraf Sabry revealed in a statement to Daily News Egypt. The service will launch before the end of the first quarter of 2016, he said. However, …
3 international investment funds acquire 85% of Fawry
Approximately 20% of the shares were acquired by the Egyptian American Enterprise Fund, 40% by Helios International Partners (on behalf of the funds it consults for), and 25% of the share was acquired by the MENA Long Term Value Fund.
CBE intervenes to strengthen pound against dollar
Dollar fell in black market for hours until it suddenly stopped
CBE raises EGP value against dollar by 20 piasters
The central bank will also cover 25% of the temporary credit facilities granted by banks to their clients importing in foreign currencies
Banque Misr saving certificates attract EGP 3.4bn by Tuesday
Daily News Egypt has learned that the NBE certificates succeeded in attracting about EGP 8bn on Tuesday, increasing the total amount of certificates bought to date to EGP 11.5bn.
Suez Canal certificates safe in spite of NBE and Banque Misr rates: Analysts
Analysts ruled out that the owners of the Suez Canal investment certificates, in the segment of EGP 1,000 and its multiples, would refund these certificates to purchase the ‘Platinum Certificate’ and the ‘Certificate of the Top’ issued by the National Bank of Egypt (NBE) and Banque Misr, which have an interest rate of 0.5% more …
Banque Misr savings certificates attract EGP1.2bn by Monday afternoon: El-Etreby
The National Bank of Egypt (NBE) and Banque Misr offered, Sunday, savings certificates with an interest rate of of 12.5% per annum, paid monthly.
CBE to convert $4bn worth of dues on importers to local currency
Tarek Amer holds frequent meetings with public bank heads to discuss developments in the foreign exchange market and to solve the problems they face
Banking sector shaken by raised NBE, Banque Misr interest rates
Intensified meetings in banks to discuss the move’s effects on customer deposits