Latest in Tag: CBE Highlight
Latest in Tag: CBE
Egypt receives $23.6bn in remittances within 9 months: CBE
Remittances record $3.3bn in only March 2022
CBE replaces state employees’ payroll slips with Meeza cards
The project helps expand the use of digital banking services and supports the state’s efforts to transform to a cashless society
CBE to issue bid for local treasury bills denominated in USD, worth $1bn
The proceeds of this bid will be directed to pay the maturity of a previous bid that the CBE put forward on 4 May 2021, through which it obtained $988.5m.
CBE releases core set of financial inclusion indicators
36.8m citizens own transactional accounts, including 16m women
Time deposits and proceeds of savings certificates hit EGP 3.869 trillion: CBE
Meanwhile, total local currency non-governmental deposits in banks operating in the Egyptian market amounted to EGP 4.561 trillion by the end of February 2022, compared to EGP 4.502 trillion at the end of January 2021, an increase of about EGP 59bn.
CBE announces key performance indicators of banks operating in Egypt during 2021
Bank deposits increase to EGP 6.45trn, of which household sector accounts for 82.4%
CBE launches several initiatives for women’s financial inclusion, empowerment since 2016
It also provided women with the necessary funding to help them implement their own projects as well as enable them to assume leadership positions in banks and increase their contribution to decision-making.
CBE launches Instant Payment Network, its mobile app ‘InstaPay’
The new network will allow bank customers to carry out electronic transfers instantly at any time.
CBE raises interest rate by 1% in exceptional meeting, Egyptian pound declines significantly
The CBE believes in the importance of exchange rate resilience to absorb shocks and maintain Egypt’s competitiveness: MPC
Banks in Egypt show strong recovery indicators from COVID-19 repercussions in 2021
Net profits of banks increase to EGP 107.132bn in December, compared to EGP 88.103bn in September 2021: CBE
Egypt focuses on MSMEs as they represent 98% of private sector: CBE
Egypt has 3.4 million micro-sized businesses, 2,200 medium-sized enterprises, and 217,000 small-sized businesses: CBE Sub Governor
CBE extends cash cover for foodstuffs until 15 March 2023
The CBE has extended the exclusion period twice in the past two years since it first introduced the exemptions in 2019.
CBE conducts survey to find out needs of SMEs: Deputy Governor
Funding is no longer biggest challenge facing SMEs, as they need non-financial technical support: Gamal Negm
Egypt’s external debt registers $137.4bn in September 2021: CBE
Long-term debt accounts for 91.6% ($125.9bn) of total external debt
Work underway on centralised online banking system: CBE
‘Know Your Customer’ project will enable citizens to open bank accounts online: Ehab Nasr
CBE leads efforts to promote fintech in local banking market: Sub-Governor
This year will witness many fintech projects, including instant payment network: Ayman Hussein
Non-government bank deposits in local currency record EGP 4.457trn in January 2022: CBE
Non-government deposits in foreign currencies reach EGP 659.901bn in January 2022
Total financial position of banks in Egyptian market approaches EGP 9trn in November 2021: CBE
Bank deposits increase to EGP 6.306trn, credit facilities up to EGP 3.066trn, of which 60.2% granted to private sector
FDI in Egypt registers $1.664bn in 1Q 2021/22: CBE
Total inflows rise to $3.704bn, compared to $3.497 during 1Q 2020/21
Egypt’s CBE launches initiative to ensure import operations are carried out using documentary credits
The initiative targets customers who have a history of importing through collection documents only and from the same bank
Keeping policy rates unchanged remains consistent with achieving the CBE’s next inflation target
Domestic economic activity is expected to record robust growth figures along the near outlook horizon
CBE reveals reasons for high inflation in January 2022
Annual urban inflation increases to 7.3% in January 2022 from 5.9% in December2021 , highest rate since August 2019
CBE to stop accepting documentary collection in import operations
Branches of foreign companies will be exempted from this decision
CBE receives 33 offers worth $1.298bn to cover US dollar-denominated T-bill issuance
The CBE launched this tender on Monday at a value of $1.05bn for a period of 364 days, and it is due on 7 February 2022.
Financial sector contains repercussions of pandemic without prejudice to its main role: CBE
Sector, both banking and non-banking components, showed solidity during pandemic
Net international reserves increased to EGP 40.980bn in January 2022: CBE
The balance of special drawing rights decreased by $2.642bn in January as well, down from December’s $2.657bn.
CBE to auction treasury bills worth $1.05bn
proceeds of T-bill issuance will be directed to pay off previous bid that CBE put forward on 9 February 2021, through which it obtained $1.088bn
Corporate Social Responsibility programmes in Banking sector reached EGP 4.608bn in 2021: CBE Governor’s Advisor
CSR contributes to the value creation of banking sectors and increase advancement in baking ranking.
Central Bank of Egypt to review base rates on Thursday
Strong expectations that CBE will keep base rates unchanged
Non-governmental deposits in local currency rose to EGP 4.469trn in 2021: CBE
The CBE’s monthly data revealed that deposits in “on demand” local currency recorded EGP 680.5bn in December, compared to EGP 665.597bn in November. Meanwhile, time deposits and savings certificates recorded EGP 3.789trn in December, up from the previous month’s EGP 3.723trn.