CIB’s Extraordinary General Assembly approves authorised capital increase to EGP 50bn
Assembly grants board of directors right to establish branches, agencies, offices in Egypt, abroad, including Sinai Peninsula
Hossam Mounir
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CBE selects its historic building in downtown Cairo as the headquarters of FinTech Hub
Bank is launching its FinTech Hub, begins pilot phase in June
EALB member of JoPACC directors board
The company aims to build and develop programmes and systems for electronic payment and clearing operations, as well as provide and apply information technology in the field of electronic payment to enhance financial inclusion and access to the digital economy
Total of 43 foreign, domestic investors offer to invest $970.6m in Egyptian T-Bills
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
13 banks in Egypt score EGP 8.48bn in net profits in 1Q19
CIB ranks 1st with profits of EGP 2.64bn, QNB AlAhli follows, Faisal Islamic Bank in 3rd
Government plans to offer treasury T-Bonds, T-Bills worth EGP 146.5bn in June
Finance Ministry borrowed about EGP 184bn in T-Bills, T-bonds in April, about EGP 148bn in May
AlexBank, SBC, Pride Capital partner to bring world’s biggest FinTech accelerator to Egypt
The Fintech accelerator programme is considered the first of its kind in Egypt, and will sustain 11 start-ups, both from Egypt and abroad, to accelerate the Central Bank of Egypt’s goal of making Egypt a global FinTech hub.
Crédit Agricole Egypt advances digital transformation culture, opens more innovative branches across Egypt
Bank has achieved a net profit of EGP 701.6m up 33.7% q-o-q
Outstanding balances of T-Bills, Bonds reach EGP 1.852tn end-April
T-Bills balances reached EGP 1.151tn, T-Bonds at EGP 701.188bn, in addition to international bonds worth $23.21bn, €4bn
T-Bills, Bonds investors pay EGP 36.12bn in taxes in 9 months
Government borrows EGP 1.827tn using debt instruments in 2018, EGP 473.75bn in Q1 of 2019
AAIB finances PSA plane purchase worth $20.5m
Loan extended over 5 years, expected to be disbursed starting June
New Banking Law prohibits establishment or operation of platforms for issuing, circulating e-currencies without license
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Bank Audi Egypt seeks to strengthen its presence in Egyptian market
Bank can support its presence among largest financial institutions in Egypt, Middle East, says Bedir
Egyptian pound continues value upward trend against US dollar
US currency lost over EGP 1 since beginning of 2019, including 34 piasters in May
CBE encourages banks to invest in funds for emerging small businesses
Decision comes complementary to previous efforts by CBE to support MSMEs, says Negm
Banks’ credit facilities see EGP 206.7bn increase in last 8 months: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
IDB posts EGP 281m in net profits end 2018
Bank’s financial position rose to EGP 24bn from EGP 19.7bn in 2017, up by EGP 4.3bn or 21.8%: Fahmy
US dollar loses over EGP 1 of its value since start of year
Expectations for US dollar to reach EGP 16.5
Egypt’s foreign trade reaches $47.8bn in second half of 2018: CBE
Fourteen countries account for 60.62% of Egypt’s foreign trade volume, led by China
Microfinance portfolio in banks reaches EGP 6.94bn in Q1 of 2019
NGOs rank first in terms of number of beneficiaries
Pundits expect CBE to hold interest rates unchanged on Thursday
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
Egypt’s domestic debt exceeds EGP 4tn in December 2018: CBE
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
It is now time for everyone to invest in Africa as main driver of global growth: Ezz Al-Arab
CIB chairperson stresses need to develop systematic frameworks to increase investment in continent
Interest rate likely to be fixed during CBE’s Thursday meeting: HC Securities
Company expects CBE to continue trend toward reducing interest rate by end of Q3 or Q4 of 2019
Meeza card, instalment services, currency rates within features of 3rd “Sally” update
Application provides full details of 161 kinds of cards issued by 33 banks in Egypt
Attijariwafa Bank-Egypt aims to attract 70 new credit customers with funds exceeding EGP 3bn end 2019
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
NBK Egypt contributes about one-third of profits of group’s foreign branches: Al-Sager
Bank aims to acquire larger market share in rapidly growing retail sector in Egypt
Suez Canal Bank aims to focus on investment banking services, non-bank financial services
Bank achieved 12% increase in net profit in Q1 of 2019, rise in financial position to EGP 49.3bn: Refaey
US dollar hits EGP 16.99 mark for first time since March 2017
The average dollar price on Wednesday recorded EGP 17.01 to buy and EGP 17.14 to sell.
Egypt’s unemployment rate drops to 8.1% in Q1 of 2019: CAPMAS
Unemployed individuals reached 2.267 million, with 2.5% decline compared to Q4 of 2018