HDB launches Housing & Development Properties company for real estate marketing
HDB has over 20 affiliated companies that provide integrated real estate, financing services: Hassan Ghanem
Hossam Mounir
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CIB holds panel discussion on climate change, its impact on financial, economic policies
Banks, international institutions show interest in financial sustainability
CBE issues binding regulations to foster sustainability and sustainable finance
This includs the establishment of an independent department for sustainability and sustainable finance within each bank
Egypt records EGP 1.12-trillion-increase in volume of domestic liquidity in banking sector over 9 months: CBE
Total non-governmental deposits in local currency with banks amounted to about EGP 5.253 trillion
Finance Ministry intends to offer EGP 338.5bn worth of T-bill, bond issuances in November
20 offering of T-bills worth EGP 271bn and 17 bond issuances worth EGP 67.5bn
CBE sets controls for financial derivatives at banks
Banks present their plans to operate in derivatives market
MSMEDA adopts ambitious plan to encourage small enterprises, increase their exports
Cooperation takes place with many major global trading platforms to benefit from experiences, capabilities
CBE justifies complete liberalisation of EGP’s exchange rate
These measures aim to ensure macroeconomic stability and achieve sustainable, comprehensive economic growth
CBE’s recent measures harsh but necessary: BLOM’s Former VP
We have confidence in those currently managing the situation in CBE to overcome this crisis
ALCOs hold meetings to discuss fate of interests after CBE’s 2% basic rate increase
Yield on some savings certificates, loan products to automatically increase by same percentage
Banks pump EGP 345bn in industrial sector within initiative to support private sector: CBE
Trade sector much easier to deal with as opposed to industrial sector, which requires greater development efforts: Hassan Abdallah
Non-oil trade exchange between Egypt, UAE exceeds $3.8bn in 5 months
UAE is Egypt’s second largest trading partner in Arab region
115% growth in financial inclusion over past 6 years: Bassiouny
Number of women who own bank accounts increases to 16 million in 2021 with 171% growth from 2016
Banks operating in Egypt spend EGP 882.9m in CSR during 1H 2022: CBE advisor
Banking sector is major supporter of all state-initiated social, development initiatives
CBE governor to review Egypt’s monetary policies in light of global developments
Review to take place during third session of Egyptian Economic Conference
Annual core inflation continues its upward trend recording highest rate since December 2017: CBE
Non-food inflation continues to increase for 11th consecutive month recording highest rate since May 2019
One Finance launches integrated consumer finance services in Egypt, with EGP 100m capital
With ambitious plan, One Finance aims to establish strong presence across Egypt through 90 PoS and full-fledged branches nationwide by 2023
Banks pump EGP 48.3bn in mortgage finance for low-income segment in September 2022
NBE is in the lead, with EGP 13.7bn in funding
CIB first private bank to raise dollar-saving certificate rates following suit of state-run banks
Interest on dollar-saving certificates of three years term increased to 5.25% monthly
28.7% decrease in Egypt’s trade deficit in July 2022: CAPMAS
Egypt’s exports increased by 2.2% as it reached $3.13bn during July 2022, versus $3.07bn in the same month of 2021, due to an increase in the value of some commodities, such as petroleum products by 89.4%, fertilizers by 6.7%, plastics in their primary forms by 3.4%, and fresh fruits by 11.4%.
Egypt’s external debt declined to $155.708bn by end of June: CBE
$129.089bn of the remaining debt is long-term debt and $26.619bn is short-term
Egypt’s annual urban headline inflation rises to 15% in Spetember
This is its highest level since November 2018
CBE launches Financial Inclusion Strategy 2022-2025
The Financial Inclusion Strategy was developed on a scientific foundation, based on the results of the financial services demand-side survey, conducted on a nationally representative sample covering individuals, MSMEs (formal and informal sectors) in cooperation with the Central Agency for Public Mobilization and Statistics (CAPMAS), and with the technical support of the European Union (EU) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). This collaboration reflects the CBE’s strategic partnership with various development partners.
Banks in Egypt set withdrawal limits on using ATM cards abroad to ease pressure on FX reserves
Steps comes after spotting manipulation practices
CBE assets reach EGP 2.986trn in June 2022
Bank’s contributions to capital of international financial institutions record EGP 15.711bn in June 2022 compared to EGP 10.844bn in June 2021
Banks looking to raise interest rates on USD certificates by Sunday
Recently, the NBE announced that it would adjust the interest rates on its three “golden” USD savings certificates and the Ahl Misr USD certificates for five and seven years for new issues starting from 9 October.
BoP records overall deficit of $10.5bn in FY 2021/22: CBE
Tourism revenues rose by $5.9bn to $10.7bn
Outstanding balance of domestic T-bills, bonds reaches EGP 4.145trn in August 2022: Finance Ministry
Outstanding balance of T-Bills in August amounted to about EGP 1.618trn
Domestic liquidity in Egyptian banking sector increases to EGP 6.808trn in August 2022: CBE
Volume of non-governmental bank deposits in local currency increased to EGP 5.128trn
Government plans to borrow EGP 878.5bn through issuing securities locally in 2Q 2022/23
Ministry of Finance aims to offer 52 T-bill issuances worth of EGP 704bn, 34 bond issuances worth of EGP 174.5bn from October to December 2022