Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE fixes dollar price in Tuesday auction, dollar remains stable in informal market
Through its weekly auction, the CBE sells dollars to banks working in the local market. On Tuesday, banks were auctioned$118.7m, and sold to their clients at a rate ofEGP 8.88 to the dollar
Banks operating in Egypt record EGP 35.88bn net profits in 2015: CBE
Non-performing loans fell to 6.8% of total, 99% of which are covered by provisions
EGP devaluation is credit positive for banks: Moody’s
Moody’s forecast of Egypt’s economic growth is lower than the government’s predictions
Negligence of foreign currency resources aggravates ballooning dollar crisis
A decline in revenues from tourism, FDI, the Suez Canal and Egyptian exports continues to burden Egypt’s foreign reserves
CBE grants banks $118.7m, returns to quota in Tuesday’s auction
Banks were granted this amount at a price of EGP8.78 to the dollar. Banks will sell to clients at a price of EGP8.88 to the dollar
Meetings to determine fate of closed companies, restore stability to exchange market
CBE signed a penalty on the violating companies, which are ready to close if such actions are in favor of the state, says Al-Abyad
CBE poised to lift interest on pound
The Monetary Policy Committee is holding its third meeting this year on Thursday to discuss the future basic interest at CBE
EFSA proposes financial services companies be involved in CBE microfinance initiative
Financial services companies with experience in financing small businesses can link banks to clients, says EFSA chairman
High interest rate hinders banks in Egypt from obtaining foreign loans
Foreign institutions require high return interest rates of 5.5%, which is unsuitable for banks, says ADIB Capital CEO
Banks lack clear vision in application of capital conservation buffer ratio
The capital conservation buffer ratio is intended to strengthen a bank’s main capital base to ensure a bank can cover losses that may arise during periods of economic or financial crisis
IMF ‘praises’ Egypt’s efforts to improve customs: Finance Ministry
The Egyptian government requested an evaluation from the fund
Amer denies plans to devalue Egyptian pound after its price falls in informal market
While the dollar is scarce, trader’s speculation has also driven inflation, says banker
International purchase of treasury bills falls to lowest since 2011: CBE report
The CBE will institute a hedging mechanism with a unified dollar exchange rate to attract international purchase of government debt instruments in April, says analyst
CBE revises mechanism of US dollar allocation
The CBE allocated $120m to banks on Tuesday to finance the import of food commodities at a price of EGP 8.78
NBE loans EGP 1bn to 1,734 micro and small-sized enterprises in February, March 2016
The bank provided EGP 23.4bn to 48,000 SMEs through of March 2016
Prime Holding publishes recommendations on reducing Egypt’s $60bn import bill
Egypt can reduce its value of imports by $20bn, the paper suggests
Banking expert warns against further EGP devaluation, unless CBE is prepared
The CBE should have enough dollar liquidity to control the market, otherwise the dollar exchange will jump commensurately, says Abdel Aal
Analysts expect further EGP devaluation against dollar
Analysts cannot predict the timing and percentage of devaluation
In Video: We welcome CBE’s pricing of EGP and flexibility in exchange rates :Masood Ahmed
Editing by Omar Korashi
CBE assigns $120m for importation of food commodities before Ramadan
This move comes within the framework of the bank’s readiness to meet the market’s requirements for food commodities before the beginning of Ramadan
CBE amends import regulations
The CBE said the new decision attempt to address the need for expediency when dealing with the geographic dimensions of food items
Banks must comply with new controls for foreign exchange deposits: CBE
CBE said in a statement on Monday that it had monitored some individuals who made large cash deposits in foreign currencies, and used them to import non-essential goods and products through companies, which is a circumvention of the controls
CBE has not received new deposits from Saudi Arabia’s MOU with Egypt as of Saturday: CBE deputy governor
Quality of performance is a requirement for extending working period, says Negm
CBE’s microenterprise initiative remains under discussion
The CBE is holding meetings with relevant bodies to launch the initiative, Negm
CBE grants banks $104.5m to cover multinational companies’ demands to import medicine, food
Foreign exchange reserves register sixth consecutive monthly increase in March
Balance of Payments overall deficit rose to $ 3.4bn during six month of FY 2015/2016
Net inflows of foreign direct investment in Egypt rose from $ 2.6bn to $ 3.1bn, says CBE
CBE closes 5 exchange companies for committing violations: deputy governor
Negm said the closure of money exchange companies and revoking their licenses is one of the sanctions provided for in banking law
Amer calls for bank leaders to hold expanded meeting next Sunday
Meeting is first of its kind since Amer took office in November 2015, first confrontation between him and excluded bank leaders
Pardon me CBE, it is none of your business
I was surprised and very distressed after reading about the resolution issued by the Central Bank of Egypt (CBE) last weekend setting a maximum of nine years, consecutive or otherwise, for CEOs to maintain their position at banks. If this period is exceeded, the CEO will continue until the adoption of the annual financial statements …
CBE has no right to reduce CEOs’ tenures under banking law: legal adviser
CBE Governor Tarek Amer surprised the banking sector by issuing a decree on Thursday to limit the tenure of executive officials in banks to nine years, whether consecutive or cumulative