Latest in Tag: CBE Highlight
Latest in Tag: CBE
Banque Du Caire finances purchase of 7,317 residential units within CBE real estate financing initiative
Banque Du Caire purchased 7,317 residential units for low and middle-income segments as part an initiative by the Central Bank of Egypt (CBE) launched between February 2014 and September 2016, according to Mounir El-Zahid, chairperson of the bank. El-Zahid explained that there are nearly 4,326 loans already being implemented worth EGP 320m, in addition to …
Making currency exchange price more flexible is essential part of government’s programme: IMF
Egypt pledged to obtain half of bilateral funds and negotiations are ongoing, says Jarvis
IMF Middle East Development director hopes Egypt can secure $6bn by end of month to receive $12bn loan
Egypt in ongoing negotiations with China, Saudi Arabia, and G7 states to provide funding for financing gap, says Masood Ahmed
Government plans to borrow EGP 324.5bn in Q2 of FY 2016/2017
Launch of treasury bills tenders for EGP 300.25bn, bonds worth EGP 24.25bn in last three months of year
CBE concludes week without changing pound’s price, contrary to market expectations
Market expectations inclined towards floating the exchange rate or reducing the value of the Egyptian pound through an exceptional auction
Tantawy appointed board member in EGX, in succession of El Dib
Tantawy will represent the FEB on the board of directors of the EGX
Contrary to market expectations, CBE fixes US dollar price in its regular auction
The bank directed the auctioned US dollar to cover imports of pharmaceutical products, vaccines, and medicine-related chemicals
Health sector requires $2.6bn annually from foreign exchange: Prime Minister
Pharmaceutical factories must continue to work at full capacity to cover local market and export needs, says Ismail
CBE did not submit data we requested on EGP 200bn initiative: parliament SMEs Committee
We have yet to know the total allocated amounts and the map of the loans, said Abu El-Saad
Egypt’s banking sector is strong and capable of supporting economy, providing funding for projects: banking leaders
Positive effects from the IMF deal can already be seen, says Ozalp
The CBE’s strategy to encircle imports failed to save dollars
Egypt’s economy is linked to a number of imported raw materials, says El-Desoki
CBE ignores increasing inflation, keeps interest rate unchanged contrary to expectations
With this decision, the interest rate on deposit remains at 11.75% and the lending rate at 12.75%
Bank credit facilities increase by EGP 224.7bn over FY 2015/2016: CBE
Private sector accounts for 59.8% of the credit facilities, while industry leads sectors backed by banks
$2.8bn payment balance deficit in FY 2015/2016: CBE
Current account deficit reaches $18.7bn, compared to $12.1bn in FY 2014/2015
PBDAC can reach nearly half the Egyptian population if properly supported by the government, CBE: Elkosayer
Depletion of foreign exchange resources is a major problem limiting the economy, everybody must support the state through this crisis, says Elkosayer
What are the challenges facing the Egyptian economy in the eyes of dealers?
Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …
Only the Egyptian people can solve their current economic problems: ex-CBE governor
Egypt has lived through more difficult problems, but the collaboration between Egyptians and increased high-quality production helped overcome those problems, says Hassan
CBE expected to increase interest rate by 1% on Thursday
High inflation, application of VAT would raise Egyptian pound’s interest rate by 2% by the end of 2016, says analyst
Banks granted EGP 207.7bn more credit facilities over 11-month period: CBE
Industry sector accounts for 32.2% of the credit facilities; while only 1.4% went to agriculture
Household sector acquires 75.3% of total deposits in banks in May: CBE
The household sector acquired 75.3% of the total deposits in banks in May, according to a recently issued report by the Central Bank of Egypt (CBE). The bank stated in its report that the household sector acquired about 78% of the total local currency deposits and about 63.3% of the total foreign currency deposits. According …
HDB Loans portfolio amounts to EGP 8.7bn as of June: chairperson
Net profits of the bank reached EGP 394.7m in the first half of 2016, increasing 22.6% y-o-y, says El-Sebai
CBE provides 10-year interest-free loan worth EGP 31bn to 3 major banks
The loan is for supporting banks’ capital base and for adjusting the capital adequacy rate
CBE secures government needs of euros through €600m treasury bills tender
The CBE received 35 offers to cover the tender totalling €786.9m, and accepted 29 for €651.9m
Parliamentary committees approve PBDAC Act, transfer of its ownership to the CBE
We are awaiting the final vote; this move would restore the bank’s real role in serving Egyptian farmers, says bank chairperson Elkosayer
Total value of banknotes issued increases by EGP 10bn in May: CBE
Banknote issuance recorded its highest level to GDP since June 2015
Banks to finish classifying SMEs, microenterprises to be financed by end of August: I-Score head
Nile Rating Company, specialised in SMEs, has merged in I- Score, said Kafafi
The United Bank to be sold late 2016, early 2017: chairperson
The CBE received requests from a large number of international institutions to acquire the bank; it will shortlist the institutions that will examine the bank, said El-Kady
Egypt to repay international bonds worth $3bn in December 2016: Finance Ministry
Egypt has other bonds worth $3.5bn that will be repaid in the period from 1 June 2017 until 29 April 2040
Panic dominates after punishment toughened on currency traders
Employees in exchange companies in the informal market express concern, outrage over parliament’s recent decision to crackdown on currency traders
Would drop in reserves delay floating of EGP despite IMF report?
The timing of this move is in the hands of the CBE and is associated with many factors, not only the level of reserves, say analysts