Egypt received first $500m portion of loan from AfDB: Amer
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves
Hossam Mounir
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Coordinating Council to discuss raising foreign deposit limit for companies
During its extraordinary meeting, council will review programme to support economy that was agreed upon between government and CBE on 17 December
Bank Audi Egypt plans to pump EGP 8bn into different economic sectors in 2016
The bank is set to sign a loan agreement with the EBRD to be directed to small and medium projects, says Deputy Chairman
NBE arranged 17 syndicated loans valued at EGP 65bn in 2015: Deputy Chairman
Electricity sector accounted for EGP 30.8bn; 14.8bn for petroleum; 9.45bn for construction; EGP 7.8bn for transportation
CBE postpones decision regarding EGP interest rate to negotiate with coordination council
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
General Assembly of the United Bank gives the current board a new three month tenure
The General Assembly of the United Bank, which was held at the headquarters of the Central Bank of Egypt (CBE) a few days ago, decided to give the current board of directors an additional three month tenure that expires 31 March. The mandate of the current board had expired on Thursday 31 December, 2015. The …
International foreign reserves ends in 2015 with a slight increase
CBE’s international foreign reserves increase by $23m at the end of December
Cooperation agreement between KarmSolar and Plus Leasing to irrigate 1.5m acres with solar energy
Plus Leasing has allocated EGP 30m to achieve this goal during 2016.
CBE to decide upon the United Bank’s board of directors within days
Sources suggest a 3-month renewal
11.6% increase in assets of Egyptian banking sector during first 9 months of 2015: UAB
Regulatory actions taken by CBE s capable of protecting Egyptian banking sector from risks during 2016, says report
Egyptian Real Estate Council to prepare initial draft of Real Estate Developer’s Union Law
The Union will classify real estate companies into categories according to the their financial solvency and previous experience, says Shokry
Government plans to borrow EGP 281.5bn from banks in next three months
Banks account for 75.5% of total releases of treasury bills and the largest percentage of bonds
Committee formed to establish 500,000 units of middle-class social housing
The project would be important in restoring balance to the real estate sector, referring to the real estate gap for middle-income housing.
CBE contemplates range of scenarios to revive faltering factories and promote production
The Coordinating Council will discuss the CBE’s alternatives on 10 January, and decide on raising the maximum level of depositing in foreign currency
NBE to increase retail loans to EGP 50bn by end of 2017
Retail loans reached 21% of the bank’s total loans portfolio, and will be increased to 40% over three years
Pound lost 9% of its value against dollar in 2015, retreat to contine in 2016
The dollar’s value rose from EGP 7.18 in January to EGP 7.83 at year’s close, exceeding the level of EGP 8 through 2015
Amer presents to Al-Sisi CBE efforts to stabilise prices, secure staple goods
The CBE governor met with the president to discuss the programme developed to achieve macroeconomic stability
EGP 2bn increase in Banque Misr retail banking portfolio in FY 2014/2015
Bank spends more than EGP 19.24bn annually on salaries, transferred by public and private sector companies
Banks delay raising interest rates on pound savings until return from debt instruments increases
The banks started to hold intensified meetings on Sunday morning to discuss the future of interest rates on the deposits and loans they handle.
Banque Misr arranges EGP 43.5bn loans to several economic sectors
Loans will be granted to construction, shipping, electricity, and energy sectors, among others
Calls to Housing Ministry to allocate part of new capital for housing
Abdallah expects no less than EGP 20bn in revenues from selling those lands to citizens
NBE arranges loans for electricity sector worth EGP 39.4 in five years
The bank intends to support the national economy by funding national projects
Visa will present Egypt with new opportunities for financial inclusion: Senior VP
Poverty alleviation requires multiple policy interventions and financial inclusion is just one, says Kehoe
Egypt suffers under weight of excessive importing: Deputy CBE Governor
We spent $76bn on imports last year, of which $16bn did not come through banks
CBE Governor denounces media reports on Egypt delaying payment of foreign dues
The CBE covers the state’s requirements of the strategic and basic commodities, including petroleum, says Amer
Banks to discuss deposits and loans, await decisions on return on debt instruments
Banks are meeting after the CBE lifted its basic interest rate by 50 bps Thursday
Global challenges may affect Egypt’s GDP growth: CBE
Monetary Policy Committee increased pound’s interest rate to counter inflationary pressures
Banque Du Caire offers youth electronic shopping card
The card is one of the bank’s many products that aim at achieving financial inclusion, says Chairman El-Zahid
CBE to raise interest rate by 50 bps
In its meeting held on Thursday, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to raise the main interest rate indicator by 50 basis points (bps). This in turn boosts the overnight deposit rate, overnight lending rate, and discount rate to 9.25%, 10.25%, and 9.75% respectively. The MPC noted that …
State, CBE, target macroeconomic stability in new programme
The Monetary Policy Committee raised the rate of the CBE’s main operation by 50 basis points