Banks operating in Egypt tend to replace LIBOR with SOFR as reference rate for dollar certificates, deposits
Banks in Egypt will modify rates on dollar certificates in line with global dollar rates to attract savings in foreign currency
Hossam Mounir
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CBE announces major financial soundness indicators in Egypt’s banking sector during 1H 2022
Total financial position of banks in Egypt increased to EGP 10.037trn
Central Bank to update inflation target in coming period: Source
CBE aims to reach single-digit inflation in medium term, expecting it to decline by 2H 2023
CBE to discuss interest rates, local currency exchange on Thursday
US dollar reaches all-time high against Egyptian pound, Fed raises rates by 0.75%
CBE issues new decisions, controls to regulate import operations, cash deposits in foreign currencies
CBE issues new decisions, controls to regulate import operations, cash deposits in foreign currencies
MSMEDA to organise ‘Our Heritage’ exhibition for handicrafts on 9 October
Egyptian president’s sponsorship of exhibition encourages small business owners and promotes heritage: Nevine Gamea
Banks operating in Egypt report EGP 56.8bn in profits during 1H 2022: CBE
Total financial position of banks in Egypt increased to about EGP 10.037trn
Egypt participates in meeting of Board of Governors of Arab Central Banks and Monetary Institutions in Saudi Arabia
Abdalla’s participation in the meeting comes in response to an invitation he received from Abdel Rahman bin Abdullah Al-Hamidi — Director General and Chairman of the Board of Directors of Arab Monetary Fund (AMF).
Total credit portfolio of ABE by end of August 2022 reached EGP 60.204bn: Chairperson
Total funds granted to agricultural sector, related activities estimated at EGP 43.535bn or 72% of total funds volume
Varied expectations about fate of interest rate in CBE’s next Thursday meeting
Prices were fixed on 18 August 2022 at 11.25% for deposit, 12.25% for lending, 11.75% for credit, discount rate, and price of main operation
Egypt, Qatar record trade exchange of $44.8m in 2021: CAPMAS
Moreover, the value of Egyptian exports to Qatar amounted to $4.5m compared to $395,000 — an increase of 1049% — while the value of Egyptian imports from Qatar amounted to $40.3m, compared to $25m — an increase of 61%.
CBE renews its warning against dealing with encrypted virtual currencies
It stressed that it lacks any material cover to ensure the stability of the currency and protect the rights of its dealers
Total financial position of banks operating in Egypt breaks EGP 10trn barrier in June 2022: CBE
Total capital reaches EGP 234.690bn, reserves stand at EGP 428.927bn, and allocations to face doubtful debts record EGP 219.589bn
Egypt’s foreign trade volume increased to about $98.476bn by the end of March 2022: CBE
An increase of about $26.755bn from March 2021
UNDP stresses continued cooperation with MSMEDA to support small businesses in Egypt
Two parties discussed ways of cooperation in upcoming stage, expanding financial, non-financial services for small enterprise sector
Mortgage finance initiative for low-income housing records EGP 49.26bn in August
National Bank of Egypt tops the list of mortgage finance providers by EGP 13.206bn, benefiting 118,900 customers
Non-governmental deposits in local currency exceed EGP 5 trillion by end of July 2022: CBE
Domestic liquidity in the banking sector increased to EGP 6.708 trillion
13 banks in Egyptian market report EGP 21.778bn net profits in 1H 2022
CIB tops list in terms of net profit at EGP 7.773bn, followed by QNB Alahli by EGP 4.754bn
Finance Ministry plans to issue 28 bids for treasury bills and bonds worth EGP 251.5bn
The ministry is offering 16 bids for bills worth EGP 211.5bn and 12 bids for bonds worth EGP 40bn
Outstanding treasury bills, bonds valued at EGP 3.96trn in June 2022: Finance Ministry
According to a report released by the ministry on its website on Tuesday, the outstanding treasury bills amounted to about EGP 1.518trn in June, comprising EGP 844.599bn in 364-day bills, EGP 307.113bn in 273-day bills, EGP 122.625bn in 182-day bills, and EGP 244.320bn in 91-day bills.
Acting CBE Governor kicks off tenure with reassurance message: Egyptian banking system accustomed to overcoming challenges
This difficult stage requires concerted efforts to develop banking sector, everyone should give new CBE’s leadership a chance, says Tarek Metwally
Central Bank expounds Egypt’s external debt in 1Q 2022
External debt registers $157.8bn, of which $131.4bn (83.3%) is long-term debt, while short-term debt accounts for $26.4bn (16.7%)
Volume of Islamic banking in Egyptian market reached EGP 443bn by end of June
Faisal Islamic Bank of Egypt is in first place with a business volume of EGP 138.3bn
Egyptian remittances increase 1.6% to $31.9bn in FY2022: CBE
Remittances reached $31.4bn, $27.8bn in FY2021, FY2020, respectively
HDB expands its integrated banking activities, records strong growth in 1H 2022
Bank achieved standalone profit of EGP 1.2bn in June 2022, increase of 20.3%
Egypt’s new Central Bank Governor has 3 important files to address
CBE has to develop monetary policies, provide various sources of foreign exchange, and create appropriate climate for investment
CBE to discuss raising key interest rates on Thursday
Market expectations vary regarding the upcoming decision of the MPC
35.8% decrease in Egypt’s trade deficit in May 2022
The trade deficit reached $2.61bn during May 2022, versus $4.06bn in May 2021, a decrease of 35.8%.
Central Bank of Egypt justifies high inflation in July 2022
July’s inflation was mainly impacted by increase of core food, retail, and service prices
Central Bank of Egypt Governor resigns
Hassan Abdalla, Hisham Okasha, Hala El-Said, Rania Al-Mashat top the list of potential nominees to succeed Amer