Latest in Tag: CBE Highlight
Latest in Tag: CBE
Egypt’s foreign debt grows by $5.6bn at end of Q3 FY 2015/2016: CBE
The new figure marks an increase of $5.6bn (11.8%), the CBE reported
Six problems facing the bank in the coming period: PDBAC chairperson
The challenges include resolving EGP 4bn worth of non-performing debts, raising efficiency of assets worth more than EGP 2bn, and diversifying products
Small and medium business solutions of the digital age
Egyptian entrepreneurs and banking experts create innovative solutions for credit underwriting of SMEs
Banking sector provides $33.7bn to cover needs of state, importers in 7 months: CBE’s Governor
Amer demonstrates with Al-Sisi the CBE’s efforts to support foreign exchange reserves and banks’ role to alleviate foreign currency crisis in the market
US dollar jumps to EGP 8.87 on official market, EGP 11 on informal market during Al-Sisi’s 2-year presidency
The official price of the US dollar increased from EGP 7.17 in June 2014 to EGP 8.87 in June 2016
Banque Du Caire finances the purchase of 6,229 housing units for low- and middle-income individuals by end of May
The bank contributes EGP 6.5bn in the syndicated loan arranged for the benefit of the Social Housing Fund, says El-Zahid
CBE reprints EGP 1 banknotes to face small change shortage
The new EGP 1 banknotes will be signed by Governor of the CBE Tarek Amer for the first time since he took office in November 2015.
CBE rejects parliamentary Industry Committee’s request to allocate 25% of monthly surplus
Minister of Investment pledged to present the ministry’s work programme to the parliament as a quarterly report
$53m decrease in value of gold listed in foreign exchange reserves in May: CBE
The CBE announced on Wednesday evening that its foreign exchange reserves increased by $510m in May, registering $17.520bn, compared to $17.010bn in April
NBE finances purchase of 8,600 low- and middle-income housing units with EGP 700m
Hegazy attributed the bank’s success in being able to finance its large number of clients to its ongoing cooperation with concerned parties, such as the CBE and the Mortgage Finance Fund (MFF), in addition to covering all geographic areas in Egypt
CBE receives banks’ proposals to amend Banking Law
The CBE’s legal department should compile suggestions and form a committee for study, says FEB legal adviser
CBE sets new regulations for marketing banking products at gatherings, conferences
The CBE’s approval is required for delegates to market their products, says deputy governor
IMF to appoint Rania Al-Mashat as advisor in August
The Central Bank of Egypt hired Al-Mashat from the IMF in 2005
Allocation for CBE’s dollar tender reaches 22.99% on Tuesday
The CBE sold $118.7m US dollars at a fixed price of EGP 8.78
CBE confirms banks’ commitment to its instructions for financing small, very small projects
The Central Bank of Egypt (CBE) affirmed that the banks operating in the Egyptian market are committed to its instructions for financing small and very small projects. Some media reports claimed that some people in business had received the funds allocated to the small projects according to the CBE’s initiative launched in January, the CBE …
CBE to present 3-month report of SME financing initiative to parliament
The financing initiative does not include micro-projects and Negm did not give expected information, says MP Abu El-Saad
Private sector accounts for 59.3% of credit facilities granted by banks to clients: CBE
Industry at forefront of economic sectors funded by banks followed by services, while the agriculture sector came last
CBE provides $120m to cover pharmaceutical product import requests
The CBE called banks to cover their customers’ requests with the US dollars they obtained from the weekly tender, according to the assistant general manager of the financial sector at a private bank operating in Egypt, Osama El-Menilawy
Council to coordinate between CBE, Finance Ministry to legalise informal sector
Bylaws to govern the agricultural SEs to be issued within days
Federation of Egyptian Banks and lost independence
When I read the Central Bank of Egypt (CBE) Law No. 88 of 2003, known as the Banking Law, I could not help but notice Article No. 44 regarding the Federation of Egyptian Banks (FEB).To save the effort of interpreting the law for non-specialists, I will list a summary in the following points: The CBE …
Some banks find it difficult to implement the CBE’s SME financing initiative due to lack of specialised staff, geographical spread
Doubts about the continuation of these projects in Egypt in wake of the recession and economic problems that even big companies cannot cope with, says Abdel Aal
SME Banking Egypt 2016 begins on Monday under ‘Roadmap for the Future’
Daily News Egypt to monitor major challenges facing the banking sector and provide a comprehensive vision to support it
NBE granted EGP 1.65bn to 2,663 small and very small enterprises over 4-month period: deputy chairperson
73% of the enterprises were granted loans to expand their activities, 27% of the financed enterprises were newly established
Local, international institutions offer to invest $1.5bn in treasury bills
Interest rate on bills stabilised at same level as the CBE’s latest tender in February
CBE provides banks with $118.7m in weekly auction
The CBE sold US dollars at a fixed price of EGP 9.78. Banks have been directed to sell the US currency to their customers at a price of EGP 8.88
Issued credit cards increased to 2.813m at December’s close: CBE
Top five banks operate 97% of electronic points of sale and 63.7% of ATMs
NBE, CIB, Banque Misr, QNB Al-Ahli, HSBC hold over half of banking sector’s total profits as of December 2015
The CBE said in a recent report that the net profit of the banks operating in Egypt reached EGP 35.882bn as of the end of December 2015
Five banks acquire 59.6% of banking sector total assets: CBE
Top ten banks acquire 72.4% of total deposits, 67.6% of loans, from among 40 banks operating in local market
CBE expects UAE deposit before end of May
The CBE’s governor says Egypt has not received any deposits from abroad since he took the helm in November 2015
Egypt’s foreign exchange reserves gain $450m in April: CBE
It explained in a statement on its website that the reserves increased to $17.011bn in April, compared to approximately $16.561bn in March