2,814 projects benefited from AFESD’s $50m loan
Projects obtained EGP 578m funding, created 12,700 jobs from loan
Hossam Mounir
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Latest by Hossam Mounir
Egypt’s trade with world registers $88.93bn in 2017/18
Imports at $63.103bn, exports score $25.827bn, UAE tops trade partners
NBE provides EGP 2bn for 18 companies working in cotton ginning, trade
Benefiting companies include eight private sector companies
SMEDA confirms its readiness to cooperate with all banks wishing to fund youth projects: CEO
Since 1992, SMEDA funded 2.9m micro, small projects worth EGP 37.8bn, created 4.6m jobs, says Gamea
SMEs account for 24% of United Bank’s total credit portfolio: vice chairpersonÂ
Bank to offer unique funding solutions, smart digital services, to support these projects, say Abdel Hamid
HDB’s SMEs portfolio amounted to EGP 2.2bn at end June: chairperson
Bank intends to pump EGP 400m to finance SMEs: El-Sebai
Banque Misr finances cotton with EGP 1.3bn for 2018/19 season
Bank arranged 17 financing operations worth EGP 113bn, planning further loans worth EGP 20.4bn
Egypt’s average external debt per capita records $883.9 in June 2018: CBE
External debt up to $92.6bn in June 2018, $79.032bn in June 2017, an increase of $13.6bn
Banks’ investments overseas: high diversity, multiple risks, derivatives completely prohibited
CBE placed several measures to hedge, expand investments, eliminate risky asset investments: Metwally
Egyptian banks find their way towards green banking as path to sustainable development
The FEB founded sustainable development committee in 2014 to implement the vision, while adhering to the best international practices in this regard
57th ACI World Congress, 43rd ICA conference begin Friday in Cairo
400 financial market experts, senior officials from around world to attend
Spectra Technology aims to supply 90,000 POS for banks, ministries, e-payment companies
Interviews underway with electronic collection companies to agree on smart applications final form for banks’ electronic payment cards
Egyptian banks inject EGP 111bn to finance SMEs until June 2018: NBE
NBE aims to increase the volume of funds allocated for SMEs to EGP 100bn by 2020, Abul Fotouh
Miza card to be activated in December: CBE Sub Governor
CBE considers issuing digital currency, says Hussein
MSMEDA funds 186,00 micro, small projects worth EGP 2.7bn in Al Sharqia: Gamea
The authority inaugurates its official website offering development services
CR2 negotiates with 2 banks in Egypt to provide e-payment services
There are three banks working with CR2 in Egypt, we aim to increase this number to eight banks by end-2019, said Soliman
SAIB’s strategy to be finalised, presented to board by end of 2018: chairperson
Programme will be presented to board to be discussed before offering it to CBE for approval
United Lease aims to increase activities to EGP 2bn by end-2018: Maher Abu Setit
The company started operation in H2 of 2017, with 90% stake owned by the United Bank, Abu Setit said
Egypt’s growth to accelerate to 5.5% in FY 2019: Standard Chartered
Fiscal consolidation is progressing, targets are ambitious
Consumer finance in Egypt worth EGP 70bn, requires putting activity under EFSA’s supervision: Omran
EFSA aims to increase volume of financial leasing to EGP 80bn by end of 2022
SMEDA pumped EGP 3.1bn to finance development projects in Assiut: Gamea
MoU signed between SMEDA, Assiut University to qualify graduates to establish, manage small projects
CBE’s renewal of repurchase agreement with international banks to provide some support for FX reserves: Beltone
Company expects local currency will stabilise against dollar for rest of 2018, with possibility of slight fluctuation below EGP 18 per dollar
Egyptian banking sector showed remarkable resilience, flexibility before political, economic challenges: UAB
Financial bank indicators operating in Egyptian market confirm existence of financial safety, remarkable performance durability, despite difficult operating conditions
NPLs fall to 4.3% of total loans at end June 2018: CBE
Provisions to combat doubtful debts amounted to EGP 109.294bn in H1
QNB ALAhli accounts for 7.93% of total loans, 5.64% of deposits in Egypt
Bank’s LDR amounted to 67%, up from sector’s average of 45%
SMEDA, ABE sign EGP 50m worth contract to support agricultural, livestock projects
Contracts signed between SMEDA, ABE since 1992 reached EGP 2.8bn
Outstanding balance of T-bills, bonds registered at EGP 2.013tn end of August
Proceeds from T-bonds offered abroad reached $18bn, €2bn
Net foreign reserves increase by $40m, reaching $44.459bn by end of September: CBE
Foreign currencies up by $60m, gold down by $19m
EBE, Misr Al-Khair sign cooperation protocol to establish agricultural greenhouses
Cooperation to increase agricultural productivity of vegetables, contribute to self-sufficiency, reduce prices, focus on export crops
Egyptian pound’s performance improves BOP: JP Morgan
Bank forecasts a current account surplus of 1.4% of GDP in 2019/20, as per report