Latest in Tag: CBE Highlight
Latest in Tag: CBE
As CBE adopts flexible exchange rate, will 2016 scenario be repeated?
Earlier this week, the CBE’s acting governor Hassan Abdallah said that the bank’s priority amid the ongoing phase is to curb the inflation rates and keep prices stable in the local market.
Banks operating in Egypt spend EGP 882.9m in CSR during 1H 2022: CBE advisor
Banking sector is major supporter of all state-initiated social, development initiatives
CBE governor to review Egypt’s monetary policies in light of global developments
Review to take place during third session of Egyptian Economic Conference
Annual core inflation continues its upward trend recording highest rate since December 2017: CBE
Non-food inflation continues to increase for 11th consecutive month recording highest rate since May 2019
CBE hosts training programme on challenges facing central banks in COMESA in field of supervision, control
This was done in implementation of presidential directives to support Egyptian-African cooperation and integration, and in continuation of the CBE’s pioneering role in achieving banking integration among African central banks.
Egypt’s external debt declined to $155.708bn by end of June: CBE
$129.089bn of the remaining debt is long-term debt and $26.619bn is short-term
CBE launches Financial Inclusion Strategy 2022-2025
The Financial Inclusion Strategy was developed on a scientific foundation, based on the results of the financial services demand-side survey, conducted on a nationally representative sample covering individuals, MSMEs (formal and informal sectors) in cooperation with the Central Agency for Public Mobilization and Statistics (CAPMAS), and with the technical support of the European Union (EU) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). This collaboration reflects the CBE’s strategic partnership with various development partners.
CBE assets reach EGP 2.986trn in June 2022
Bank’s contributions to capital of international financial institutions record EGP 15.711bn in June 2022 compared to EGP 10.844bn in June 2021
Domestic liquidity in Egyptian banking sector increases to EGP 6.808trn in August 2022: CBE
Volume of non-governmental bank deposits in local currency increased to EGP 5.128trn
CBE wins largest share of AFI awards for combating poverty, unemployment, promoting sustainable development
The AFI held its 12th annual conference in the Dead Sea, Jordan this September, where the CBE won two awards for innovation in digital financial services and commitment to achieving financial inclusion goals, among five awards presented by the alliance annually. The bank was also honoured for reaching the final round, among three other countries, for the awards of institutional excellence and financial inclusion for young people.
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 of Egypt keeps interest rates unchanged
Central Bank of Egypt decides to increase banks’ required reserve ratio to 18% from 14%
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
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
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
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
CBE, AfDB sign MoU to host its annual meetings in Sharm El-Sheikh in 2023
The agreement was signed on behalf of Egypt by Hassan Abdalla — Acting Governor of the CBE — and Vincent O. Nmehielle — Secretary-General of the AfDB Group — in the presence of Ahmed Zayed — the AfDB’s Executive Director for Egypt and Djibouti and the Dean of the AfDB Group’s Board of Directors.
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
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
Egypt’s PM, CBE Acting Governor discuss exemptions to Documentary Credits System
First off, they discussed the most important indicators of monetary policy and the expected positive repercussions of the recent decisions issued by the CBE regarding cancelling the maximum limits for deposits for individuals and companies in bank branches and ATMs, which were being implemented as part of the precautionary measures taken to confront the effects of the COVID-19 pandemic.
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
Acting CBE Governor appoints Hisham Ezz Al-Arab and Mohamed Naguib as advisors
Central Bank of Egypt Acting Governor Hassan Abdalla has appointed Hisham Ezz Al-Arab, the former president of the Commercial International Bank (CIB), and Mohamed Naguib, the former head of the saib Bank, as his advisors. This came during a meeting held by Abdalla on Wednesday with the current leaders of banks operating in the Egyptian …
Egyptian remittances increase 1.6% to $31.9bn in FY2022: CBE
Remittances reached $31.4bn, $27.8bn in FY2021, FY2020, respectively
What is the capital market waiting for from the new CBE governor?
Increasing bank investments in the stock market
CBE’s acting governor asserts full cooperation with government in common files
This came during a Thursday meeting with Egypt’s Prime Minister Mostafa Madbouly, a few hours after Abdalla was assigned by President Abdel Fattah Al-Sisi to assume this position.
Hassan Abdalla named Acting Governor of Central Bank of Egypt
Al-Sisi meets Abdalla, stresses need to develop monetary policy in line with current global conditions
CBE to discuss raising key interest rates on Thursday
Market expectations vary regarding the upcoming decision of the MPC
CBE records $14.9bn in GCC deposits in 1Q 2022
The CBE also revealed that it has paid about $20bn in interest and instalments for foreign debts from July 2021 to March 2022, $16.6bn of which were instalments and $3.345bn were interest payments.