Latest in Tag: CBE Highlight
Latest in Tag: CBE
We have not issued any instructions to banks to stop dealing in Qatari riyal: CBE
The Central Bank of Egypt (CBE) denied issuing any instructions to banks operating in the local market to stop dealing in Qatari riyal. Some banks suspended trading in Qatari riyal on Monday following Egypt’s decision to cut diplomatic ties with Qatar. In a statement to Daily News Egypt, the CBE stressed it did not forbid …
Egypt’s foreign exchange reserves reach new high
The foreign exchange reserves increased to $31.1bn at the end of May compared to $28.6bn in April
CBE completes electronic linking system with COMESA banks
The project is a new positive step towards supporting Egyptian economic relations with African countries, says CBE governor
CBE’s decision to raise interest rate continues to stir controversy
The decision was great and emphasised the bank’s determination to activate its most important tools in the fight against inflation and not just abiding to the requirements of the IMF, says Abdel-Aal
Improvement witnessed in banking sector deposits growth: Beltone Financial
Commercial banks’ foreign liabilities decreased to $430m in April from $10.7bn in November
Banks financed foreign trade operations valued at $35bn since flotation: CBE
Decision to raise interest by 2% aims to curb inflation, CBE takes into account all society segments, Amer says
Raise in interest rates “slap” for investment in Egypt: CONSTEC executive director
The profit margins of contracting companies range between 4% and 5%, while banks’ interest rate reaches 20%, says Abdel-Hakam
CBE-auto industry committee submits final report to CBE Governor next week
The committee suggests the abolition of intermediary companies between the investor and the government when obtaining lands, says Khaled Saad
CBE holds hope on Banque du Caire to support microenterprises: Amer
The bank injected 1.5 million loans to project owners until the end of 2016, with a total cumulative value of EGP 11bn
CBE calls on banks to introduce credit-rating system to evaluate micro-financing institutions
We have been studying ways to strengthen this sector, which is one of the most important pillars of achieving financial inclusion, says Amer
Banks and real estate shares among “Top Picks” after CBE move
Investors likely to inject cash in these stocks to maximise profits
Banks ignore CBE decision to raise interest, keep rates unchanged
Next increase may be on short-term vessels, interest on certificates will not be changed, say bankers
Interest rate hike aims to help build up international reserves: Arqaam Capital
IMF welcomed the step, saying it aims at the welfare of the Egyptian people and tackling inflation
Raising interest on the pound is for the benefit of all: CBE governor
The CBE does not consider specific entities when making decisions, Amer said defending MPC’s decision
Investors believe raising interest rate is wrong, expert says it could control the economic situation
The Monetary Policy Committee (MPC) announced on Sunday raising the discount rate by 2%, reaching 17.25%. In addition, the overnight deposit rate, overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation increased by 2%, reaching 16.75%, 17.75%, and 17.25%, respectively. The step of raising the interest rates was recommended …
Raising interest rates shakes markets, disturbs business community
Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn
Ambiguity surrounding CBE’s decision on interest rate in Sunday’s meeting
IMF confirms that using interest rate is the right tool to face inflation in Egypt, the market excludes the possibility of increasing the interest rate
Good performance indexes in banks by end of January: CBE
EGP 67.2bn increase in volume of deposits, EGP 52.8bn in loans
CBE completes new Banking Law draft, sends it to FEB for review
Foreign exchange shortage is over as Egypt collected $45bn since flotation, says CBE Governor
Establishment of Financial Inclusion Unit to support, strengthen financial inclusion in Egypt: Bassiouny
Khaled Bassiouny, general director of the Financial Inclusion Unit at the Central Bank of Egypt (CBE), said that the objective of establishing this unit and its subordination to the CBE governor in person is to support and enhance the financial inclusion in Egypt. The CBE recently set up a financial inclusion unit and appointed Khaled …
Negm reveals CBE’s efforts for achieving financial inclusion in Egypt
Financing SMEs, limited and middle-income people housing were the most important CBE initiatives
Price indicators suggest that inflationary shock is cooling off: Pharos Holding
The second IMF tranche disbursement will represent a confidence booster that would help ease potential pressure on the exchange rate, says Pharos
Pressures mount on CBE as IMF calls for interest rate hike to tame inflation
Inflation extends rise in April on higher food prices
CBE obliges banks to not deal with more than 7 exchange bureaus
Banks and companies granted 4-month transition period to adjust, says Negm
CBE launches initiative to finance microenterprises at end of May
About 37,000 small and medium-sized companies received loans worth EGP 101bn between December 2015 and December 2016
$8bn total transfers from Egyptians working abroad in 5 months: CBE
Total remittances in March 2017 were worth $1.6bn, compared to $1.5bn in March 2016
Egypt’s stocks under pressure as possible interest rate hike looms
The CBE delayed the meeting of its monetary policy committee to 21 May
Banks start activities of financial inclusion week on Thursday
Negm addresses banks to be present in remote areas, clubs, and universities, display banking products proper for this segment of traders
CBE Governor meets international financing institutions officials during IMF meetings
Tarek Amer, the Governor of the Central Bank of Egypt (CBE), had held a series of meetings in Washington and New York before the spring meetings of the International Monetary Fund (IMF) took place on Thursday. According to a report by the CBE, Amer met with representatives of the management of capital market and investment, …
Banks opened letters of credit worth $6.34bn for petroleum product imports in 2016: CBE
The banking system has collected $19.2bn since the flotation