Al-Ahly Capital Holding, Suez Industrial Development partner to develop integrated industrial zone in Abu Rawash
The agreement includes Suez Industrial Development acquiring 25% of Al-Ahly Industrial Development
Hossam Mounir
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Latest by Hossam Mounir
CBE directs increasing banks’ contributions in Decent Life initiative
Banks inject EGP 826m in finance to 17,000 small, micro enterprises within 9 months
We are working to increase trade exchange between small enterprises in Egypt and Africa: Trade Minister
Breaking into the African market is one of the most important axes of the MSMEDA’s action plan
ABE Chairperson, New Valley Governor open recently developed bank branch in Kharga
ABE’s top priority is to support financial inclusion, in implementation of CBE’s directives, says Alaa Farouk
CBE explains its reasoning for raising interest rates by 2%
MPC decided that raising policy rates is necessary to contain inflationary pressures, which is consistent with achieving price stability over the medium term
Banks in Egypt discuss fate of interests on savings vessels, loans after 2% basic rate hike
Yield on some savings certificates, loan products rises automatically after CBE’s decision
CBE to discuss interest rates, EGP’s value on Thursday amid strong expectations of hike
The current interest rates are 9.25% for deposit, 10.25% for lending, and 9.75% for the credit rate, discount rate, and price of the main operation
CBE will not hesitate to take measures it deems necessary to curb inflation: CBE Governor
The governor added that negotiations with the IMF are going well
Annual urban inflation increased to 13.1% in April, highest rate since May 2019
The increase in urban inflation is attributed to strong monthly dynamics in both food and non-food items
CBE joins international green financial system network within framework of implementing state’s strategy for sustainable development
This new step comes in light of the state’s strategy to achieve sustainable development and its belief in the vital role of the banking sector and the CBE in supporting the green economy and applying the best international best practices in this field.
Development, automation of 90% of financial directorates to be completed before end of June: Finance Minister
The government is paying special attention to rationalising public spending
CBE replaces state employees’ payroll slips with Meeza cards
The project helps expand the use of digital banking services and supports the state’s efforts to transform to a cashless society
ABE keen on supporting state’s efforts to develop Upper Egyptian governorates: Chairperson
EGP 233m allocated to finance agricultural associations in Aswan
HDB launches new package of services to support digital banking strategy: Ghanem
The bank achieved a breakthrough in the field of digital transformation, launches second phase of internet banking services
Banking alliance led by NBE grants EGP 12.5bn to Canal Sugar Company
Al-Ahly Capital contributed with a direct investment of EGP 1.62bn, provided foreign investment financing worth EGP 7.516bn
Egypt’s MSMEDA provides appropriate environment for SMEs to expand: Trade Minister
Furthermore, Gamea said that the MSMEDA is currently communicating with owners of small enterprises in industrial complexes in seven governorates, namely Beni Suef, Minya, Sohag, Luxor, Gharbeya, Alexandria, and the Red Sea to determine their needs for specialised financing programmes or various technical services for training, marketing, and other technical support services.
USD loses more than 11 piasters, records EGP 18.3289 for purchase and EGP 18.4183 for sale
Wednesday saw a collective decline in the prices of major currencies against the EGP
Annual urban inflation jumps to 13.1% in April 2022: CAPMAS
Monthly core inflation records 2.4% in April 2022
US dollar continues trading at EGP 18.44 for purchase, EGP 18.52 for sale on Sunday
Official price of American currency at CBE records EGP 18.43 for purchase, EGP 18.54 for sale
Egypt’s net international reserves inch up to $37.123bn in April
Egypt’s international reserves consist of foreign exchange (FX), gold, special drawing rights (SDRs), and net loans from the International Monetary Fund (IMF).
Non-governmental bank deposits in local currency increase by EGP 193bn in March 2022
Deposits in foreign currencies also increase to EGP 808.372bn
MSMEDA injects EGP 2bn to finance 60k projects during 1Q 2022
Significant part of funds go to Upper Egypt, border governorates: Trade Minister
Egypt expected to raise interest rates after US Fed decision
CBE awaits inflation data to determine extent of increase
Finance Ministry plans to issue 35 T-bill, bond offerings worth EGP 244bn in May
Plan includes 20 T-bill bids worth EGP 213.5bn, 15 bond bids worth EGP 30.5bn
‘Khazna’ obtains CBE’s approval to launch prepaid card in partnership with ADIB
Khazna card allows money withdrawal and deposit, online payment, and payroll.
CBE to issue bid for local treasury bills denominated in USD, worth $1bn
The proceeds of this bid will be directed to pay the maturity of a previous bid that the CBE put forward on 4 May 2021, through which it obtained $988.5m.
CBE releases core set of financial inclusion indicators
36.8m citizens own transactional accounts, including 16m women
Egypt looks forward to US Export-Import Bank providing low-cost finance for green projects: Finance Minister
Cairo targets increasing joint cooperation with EXIM Bank in financing development projects, supporting role of private sector
Acquisition of share in CIB will not negatively affect management of bank, harm interests of clients: Alpha Oryx
The company plans to work with the management of the bank to identify opportunities for cooperation and growth and to ensure the benefit of joint expertise and experiences
iScore profits register EGP 215m in 2021
The company’s database contains the data of 21.6m individual credit customers and 529,000 SMEs