Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE raises cap on dollar deposit to $1m per month
The new cap compares to the previous daily limit of $10,000 on dollar deposits, with a $50,000 monthly cap
CBE Deputy Governor clarifies regulators on dollar cap increse
Officers from banking operations expressed uncertainty regarding several features of the new CBE directive governing dollar deposits for import operations
Asset managers expect balanced funds to dominate in 2016
Appeal of balanced funds grew following diminishing investment opportunities in monetary and fixed income funds due to decision to reduce investments in such funds
Ministries of investment, finance meet with CBE to discuss activation of secondary bond market
Investment Ministry and EFSA form joint committee to reduce fees for listing companies’ in EGX, says Salman
We will not put depositors’ money at risk by investing in stock market: Banks
Foreign banks prevent branches from investing in stock market, Egyptian banks resort to creating subsidiary companies, investment funds
$90m increase in value of gold listed in forex reserves in January: CBE
The central bank awaits the Chinese loan and the first portion of the World Bank loan to reinforce reserves
5% expected growth in computer sales after exemption from import regulations
This decision will help companies boost their sales, particularly after they faced a decline last year, due to the lack of dollar availability.
CBE regulations on retail bank loans expected to boost car payments through direct instalments
Customers will escape from banking restrictions, says Honourary Chairman of AMIC
CBE provides $400m to import fuel in Q1 of 2016
EGPC resorts to petroleum contracts with payment facilities to resolve dollar crisis, says official
CBE’s decision to raise cap on dollar deposit will not mitigate liquidity pressures: Moody’s
The CBE decision included high-priority products, such as pharmaceuticals, production inputs, raw materials, food, and industrial machinery, excluding other luxury goods.
CBE excludes computers and applications from import restrictions
Decision will contribute to increasing supply of computers and their accessories: Khalil
CBE discusses ways to increase MSMEs’ funding with banks
Banks are currently preparing their infrastructure to begin implementing CBE initiative
EGP 2tn size of the Egyptian banking sector by the end of 2015: Fayed
The size of the Egyptian banking sector was EGP 2tn by the end of 2015, according to Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed
Only 8 million of 54 million eligible citizens have bank accounts
Vice chairman of the Federation of Egyptian Banks and chairman of the National Bank of Egypt (NBE) Hisham Okasha said that only 8 million of 54 million eligible Egyptian citizens have bank accounts
CBE fixes prices of basic yield
The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday evening to fix the prices of basic yield at CBE, according to its statement
First portion of WB loan has not entered CBE yet: CBE Deputy Governor
Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed asserted said the first portion of the loan agreed upon with World Bank (WB), estimated at $1bn, has not entered CBE yet
CBE’s decision to raise dollar deposit cap ineffective in bolstering import market: Sheha
The dollar reached EGP 8.6 on the black market
Monetary Policy Committee holds first meeting in 2016 to discuss future of basic interest rates at CBE
The MPC decided during its last meeting on 24 December 2015 to raise basic interest rates by half a percentage point, resulting in an overnight deposit rate of 9.25%, an overnight lending rate of 10.25%, and a main operation and discount rate of 9.75%.
Non-performing loans fell to 7.2% of total by end of September 2015: CBE
CBE issued its Financial Soundness Indicators report, where the loans-to-deposits ratio increased to 42%
CBE decides to raise maximum foreign currency deposit cap to $250,000 monthly
Decision applies only to companies to facilitate import operations of main and basic commodities
CBE policies reduce car imports in 2016
NBE and Banque Misr restrict opening letters of credit for fully-manufactured models, says banker
CBE demands that banks tighten security measures around their offices on 25 January
Falcon deploys fast intervention cars around institutions it secures to support its personnel at any time
Limited impacts for recent CBE lending controls: Beltone
Reducing maximum loan per customer and bank contributions in capital market funds for better risk management and to diversify its applications
Banks race to implement CBE’s programme for funding SMEs
Both Banque Misr and the Industrial Development and Workers Bank of Egypt have begun proposing funding programmes with a 5% declining annual interest rate
EGP 29.3bn increase in bank deposits, EGP 10.8bn increase in loans in October 2015: CBE
Household sector acquires 77.6% of deposits in the local currency and 63.2% of deposits in foreign currency, private sector acquires 75.8% of loans
Bank’s proposals published to break deadlock of CBE’s retail banking regulations
Banks request CBE not to impose these regulations on all customers and to divide them in categories based on income
FocusEconomics reduces GDP growth forecast for Egypt
Inflation to average 9.8% in 2016, FocusEconomics monthly report says
Banque Misr begins activating CBE initiative to finance SMEs with 5% yield
This springs from the bank’s commitment to promoting economic development and contributing to the development of society by fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.
CBE’s new lending regulations are credit positive for banks: Moody’s
Egypt’s Higher SME Lending Quota Supports Economy but threatens Banks’ Asset Quality
CBE restructures investing money in banks
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs