Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE launches hotline for complaints on malpractices in currency trading
The Central Bank of Egypt (CBE) launched a call centre hotline on Sunday under the number 16775. According to the CBE, this hotline is designated for complaints from clients regarding malpractices being carried out by banks and exchange bureau companies if they violate instructions on US dollar trading. The CBE will focus on violations relating …
IMF mission chief for Egypt welcomes CBE’s decision to float the Egyptian pound
The CBE decided to float the Egyptian pound on Thursday
In Video: CBE floats Egyptian pound, raises interest by 3%
Bank are free to price the US dollar: CBE
This comes after the CBE fully floated the exchange rate on Thursday morning
US dollar registers EGP 14.3 for sale at private banks
The price of the euro against the national currency reached EGP 14.66 for buying and EGP 15.91 for selling
Floating the Egyptian pound is an excellent step: Naguib Sawiris
Sawiris called on the Egyptian people to support the CBE’s decision
CBE floats Egyptian pound, raises interest by 3%
The CBE decided on Thursday to let banks in the market set their own exchange rate for the Egyptian pound against the US dollar
Economic Affairs Committee to propose exchange bureaux be obliged to deposit US dollars at CBE for 5 years
There are 91 currency exchange companies, some of which own 20 branches, says MP El-Gohary
Informal US dollar rate expected to drop if banks refrain from accepting foreign exchange
Current procedures by government, CBE target to reduce demands for US dollar, and we should work on increasing supply, says analyst
CBE consideres obliging banks to not accept foreign currency from anonymous sources
The move aims to lay siege to the informal market and crack down on traders, says senior banker
Parliament approves Agriculture Bank Law, moving the bank under CBE’s authority
The Egyptian parliament approved a law that would oversee the transfer of authority over the Principal Bank for Development and Agricultural Credit (PBDAC) on Tuesday. “The Central Bank of Egypt (CBE) will have the full authority over PBDAC,” said the PBDAC’s chairperson Elsayed Elkosayer. Elkosayer told Daily News Egypt, that the parliament approval of this …
CBE stabilises Egyptian pound’s price against US dollar, ignores market’s expectations again
Analysts ruled out Egyptian pound’s devaluation before 11 November
Government to determine commodity profit margins with FEDCOC, FEI next week: Prime Minister
Government in full coordination with CBE to overcome the US dollar crisis
33 banks offer investments worth EGP 278.85bn in CBE’s deposit operation
Thirty-three banks operating in the domestic market offered investments worth EGP 278.85bn of surplus liquidity in local currency via deposit operations, which was deposited by the Central Bank of Egypt (CBE) on Tuesday, according to data obtained by Daily News Egypt. The CBE performs this deposit operation every Tuesday, in order to absorb excess liquidity …
State banks boost their investment in treasury bills by EGP 13.8bn in July: CBE
Banking sector accounts for 77% of total outstanding balances of bills
Domestic public debt jumps to EGP 2.612tr as of end of June: CBE
The government’s net debt amounted to EGP 2.286tr during FY 2015/2016, an increase of EGP 414.3bn compared to FY 2014/2015
Private sector acquire 59.5% of total credit facilities granted by banks to customers through July: CBE
Deposits increase by EGP 15.4bn, including EGP 12.8bn in local currency
CBE launches its regular auction with $120m, fixes US dollar at EGP 8.78
The Central Bank of Egypt (CBE) launched on Tuesday its regular weekly auction to sell US dollars to banks with the value of $120m. The auction fixed the US dollar exchange rate at EGP 8.78; as a result, banks will sell it at EGP 8.88. According to Osama El-Menilawy, the assistant general manager of the …
State of uncertainty over devaluation of Egyptian pound after president meets CBE governor
A senior banker ruled out any move by the CBE before 11 November
CBE allocates $1.8bn to cover imports of strategic goods: Supply Minister
Establishment of a committee to set new eligibility standards for food subsidy card
CBE launches its regular auction with $120m, fixes US dollar at EGP 8.78
The Central Bank of Egypt (CBE) launched Tuesday its regular weekly auction to sell US dollars to banks, asserting that it is not intending to launch any exceptional auctions. With a value of $120m, the auction fixed the US dollar exchange rate at EGP 8.78; as a result, banks will sell it at EGP 8.88. …
Egyptian bankcards used to complete $2.5bn worth of transactions abroad in FY 2015/2016
Banks have received clear instructions to suspend cards that are being misused, says CBE deputy governor
State treasury receives EGP 24.92bn from CBE’s total profits in FY 2015/2016 ending in June
According to the CBE’s financial statements approved on 20 September, the bank’s profits increased during FY 2015/2016 by almost EGP 6.1bn
5 banks in Egypt account for 71.47% of banking sector’s total profits as of June: CBE
The sheer capital of banks amounts to EGP 100.72bn, with the top 10 banks acquiring 55.9%
Banque Misr aims to boost SME loan portfolio to EGP 30bn in next few years
Banque Misr aims to increase the size of its small- and medium-sized enterprises (SMEs) loans to reach EGP 30bn in the next few years, in line with the initiative launched by the Central Bank of Egypt (CBE) earlier this year. The initiative was launched in support of these projects, boosting the size of their loans …
MIDB aims for EGP 350m in profits by end of year: managing director Amr Tantawi
As FEB representative and newly-appointed EGX board member, Tantawi will coordinate between officials in the capital market and other related sectors
CBE vows to ‘punish’ banks lagging behind in SME support
The Central Bank of Egypt (CBE) vowed to punish banks that lagged behind on the implementation of the initiative launched earlier this year to support the financing of small- and medium-sized enterprises (SMEs). The CBE had earlier committed banks to grant no less than 20% of total loans to SMEs over four years. CBE sub-governor …
Issued credit cards increase to 3.8m at June’s close: CBE
The number of credit cards at banks operating in the Egyptian market increased to about 3.825m cards as of the end of June, compared to 3.28m cards in December 2015—an increase of 545,000 cards, according to the Central Bank of Egypt (CBE). The CBE said in a recent report that the number of debit cards …
Non-performing loans fall to 5.9% as of end of June: CBE
Private sector accounts for 70.6% of total loans provided by banks to their customers, and loans-to-deposits increase to 44.5%
CBE fixes pound’s price against US dollar on Tuesday, market still awaiting devaluation
Possibility of launching exceptional auction completed ruled out for now, as the CBE wants to preserve foreign exchange reserves