Latest in Tag: CBE Highlight
Latest in Tag: CBE
Exchange firm officials prepare for expanded meeting with CBE
El-Abyad denies any agreement between CBE and exchange firms on a specific price for dollar
Amer condemns media for promoting exaggerated dollar prices in informal market
We cannot consider the process of dollar trade outside the banking sector and exchange firms with trustworthy prices, says Mohamed Abdel Aal
Ashraf Elkady to take office of United Bank of Egypt by April
Elkady currently serves as assistant managing director of Suez Canal Bank, where his last day will be on Thursday
Price of dollar dropped to EGP 9.70 in informal markets Wednesday: Al Abyad
Dollar price may be dropped again to EGP 9.30 next Sunday, chairman predicts
CBE removes limits on foreign currency deposits and withdrawals for companies importing goods and basic products
CBE’s new decision was put into practice on Wednesday 9 March
Unflagging EGP decline threatens Egypt’s economic growth
US dollar is forecasted to break EGP 10 threshold
EGX-30 closes with 0.5% surge, unaffected by CBE’s decision
Analysts argue that positive news would encourage investors to buy
MPs suggest change in monetary policy punctuated by floating exchange rate
House of Representatives will request Governor of CBE disclose his strategy in dealing with the dollar crisis
CBE removes caps on foreign currency deposits, withdrawals for individuals
The central bank has issued new regulations to fund acquisitions
CBE sells banks $500m to insure strategic imports of food commodities and medicine
The CBE conducted the sale at an exchange rate of EGP 7.73 per US dollar
Faisal Islamic Bank of Egypt to focus on MSMEs in new lending policy
The bank has presented a plan to the CBE to increase the share of funds provided to SMEs in its lending portfolio by 7% by 2019, said El-Bendary
Banks submit SME loan programmes to CBE
The CBE’s January announcement mandated that banks must direct a minimum of 20% of their loan portfolio to finance SMEs within four years
Egypt’s US dollar certificates issuance positive for banks, insufficient to quell liquidity pressure: MOODY’S
The sale of US certificates for sale to Egyptian expatriates will increase the three government-owned banks’ dollar funding; a credit positive especially since bank dollar liquidity has tightened in recent months, according to Moody’s released Wednesday
Automotive manufacturers claim EGP 27bn tariff contribution in rejoinder to CBE governor’s criticism
Current legislation does not attract large manufactures, says Mostafa
New measures to attract applicants for Mortgage Finance fund
Interest rates reduced to 5% from 7%
Profit repatriation impedes acquisition deals in local market
CBE failed to resolve repatriation problems, which hindered flow of foreign direct investment, say Experts
CBE finances purchase of housing for low-income earners with discounted yearly rate
Bank amends mortgage finance initiative, introduces another category of youth
Banking sector allocates EGP 10bn for Housing Ministry to build 450,000 housing units: Amer
About 90% of national output in advanced societies is based on small projects and small- and medium-sized enterprises (SMEs) which have become CBE’s new strategic goal now after they were neglected in the previous period
CBE decides to defer tourism sector debts to banks for 3 years
CBE will create unit to contribute to restructure the debts of tourism sector
CBE sets new change on import controls
It will exclude all goods imported by air freight, software programmes, applications, computers, and their accessories
CBE’s launch of United Bank IPO contingent on approval of 2015 budget: Official
Budget is currently being reviewed by the CBE, ASA
CBE announces EGP 5bn loan programme for industry, manufacturing
The loans will be allocated for the purchase of machines and equipment to expand production capacity, and will have a decreasing interest rate initially set at 7%
CBE to consider floating pound when foreign reserves hit $30bn
Actual value of imports amounts to approximately $90bn, in addition to smuggled goods worth approximately $9.6bn, says Amer
$1.208bn offered for investment in treasury bills
Return on bills increased by up to compared to last CBE auction last January
Amid stalled import operations, Afreximbank-CBE agreement to provide $500m in facilities
The Afreximbank facility is part of a $3.5bn financing programme, approved by the Afreximbank board of directors last December
Uncertainty surrounds United Bank chairman appointment
While Fahmy is considered most likely to ascend to the leadership role, sources indicate that the CBE is assessing two additional candidates
Banks record EGP 8.2bn increase in deposits in November: CBE
Banks also saw a EGP 2.3bn increase in loans during the same month
Inflationary wave hits markets after dollar value appreciates to EGP 9.15 in exchange offices
CI Capital has predicted a high average inflation rate, ranging between 11% and 11.5% in 2016 and Prime Investment expects the inflation rate will reach 10.8%
CBE bans foreign currency transactions at local points of sale
According to the CBE, this decision came in light of the discount made on transactions conducted at local POS in foreign currency at some commercial centres, through credit cards issued in local currency from local banks
CBE cannot be asked to bear more than it can to solve: El-Kosayer
The CBE is not responsible for providing the dollar; it is responsible for managing foreign currency reserves and the exchange market