Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE controls bank operations by applying sticker obligations
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income
Local, international institutions offer to invest $1.168bn in treasury bills
The bills’ interest rate saw a 40 points increase compared to CBE’s last auction in December
CBE launches programme to fund 350,000 SMEs for EGP 200bn in 4 years
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
CBE programme to support SMEs boosts economic growth: Masters Securities Investment
The CBE decided to stimulate banks by offering financing loans with a maximum interest rate of 5% for SMEs
CBE approves IDBE’s listing as accredited consulting firm
The list of accredited consulting firms at CBE includes 81 institutions, among which there are only two banks; the Housing and Development Bank (HDB) and IDBE.
Annual inflation rate increased by 0.1% in December
Expert predicts surge in foreign reserves, and decline of inflation rate following new import procedures
CBE awaits first segment of World Bank loan to support foreign reserves
Foreign reserves are facing major challenges by the beginning of 2016; repaying installments of foreign debts, covering local demand for dollars
Egypt received first $500m portion of loan from AfDB: Amer
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves
Coordinating Council to discuss raising foreign deposit limit for companies
During its extraordinary meeting, council will review programme to support economy that was agreed upon between government and CBE on 17 December
CBE postpones decision regarding EGP interest rate to negotiate with coordination council
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
International foreign reserves ends in 2015 with a slight increase
CBE’s international foreign reserves increase by $23m at the end of December
CBE to decide upon the United Bank’s board of directors within days
Sources suggest a 3-month renewal
Government plans to borrow EGP 281.5bn from banks in next three months
Banks account for 75.5% of total releases of treasury bills and the largest percentage of bonds
CBE contemplates range of scenarios to revive faltering factories and promote production
The Coordinating Council will discuss the CBE’s alternatives on 10 January, and decide on raising the maximum level of depositing in foreign currency
Balance of Payments registers deficit of $3.7bn in first quarter of FY 2015/2016: CBE
The Central Bank of Egypt (CBE) announced Wednesday that the Balance of Payments (BOP) registered a deficit of approximately $3.7bn in the first quarter (Q1) of this fiscal year (FY) 2015/2016 compared to a surplus of approximately $410m during the same period in FY 2014/2015. BOP addresses Egypt’s economic transactions with the international market. CBE …
Stock market expected to decline due to increase in interest rates
Stock exchange to face short wave of profits as a result of the increase of last 6 sessions with weak purchasing power
Global challenges may affect Egypt’s GDP growth: CBE
Monetary Policy Committee increased pound’s interest rate to counter inflationary pressures
State, CBE, target macroeconomic stability in new programme
The Monetary Policy Committee raised the rate of the CBE’s main operation by 50 basis points
CBE pumped $8.3bn to cover imports between 29 October and 12 December: Amer
The Central Bank of Egypt (CBE) has pumped $8.3bn between 29 October and 12 December to cover import operations and pay foreign state dues, CBE Governor Tarek Amer said. Amer explained, during a CBE conference on Thursday, that the CBE is committed to paying off the state’s hard currency dues. He noted that Egypt did …
Egypt imported $3.2bn worth of passenger cars in 2015: CBE
Egypt witnessed excessive importing, which negatively affected local industries, says Deputy Governor
CBE sets new regulations for imports
We work to protect the domestic industry and ensure its competitiveness against foreign products, says CBE
Amer informs Ministry of Finance of banks’ rejection of VAT
A high-level meeting was held between Ministry of Finance and CBE to discuss a solution
Banks take steps to support tourism after new CBE initiative
Measures include postponing loan repayments for tourism employees and investing in facilities
Local, international institutions offer to invest $1.5bn in Egyptian treasury bills
The CBE accepted $1.1637bn of this liquidity
CBE may raise interest rate on the pound next Thursday: analyst
Rising inflation and expectations of higher dollar interest may raise the interest rate on the pound sooner than expected
CBE proposes $1.1bn tender for treasury bills
New tender to be issued to pay off old bills worth $1.17bn offered on 16 December 2014
CBE pays 25% of credit facilitation for importers
The Central Bank of Egypt has repaid approximately 25% ($1bn) of the total credit facilitations granted by banks for importers in the past period, according to a banking official. The transaction was completed on Sunday, at a dollar rate of EGP 7.7401. The official said banks received an e-mail from the CBE on Sunday evening, stating …
Will CBE succeed in pushing banks to increase dollar resources?
Banks made large profits; it is time to pay part of these profits’ bill and help overcome this crisis: Abdel-Aal
Amer will lead IFSB chairmanship for 2016
He will officially take the role end of the year with Valiollah Seif as deputy chairman
Annual inflation rises to 11.8% YoY in November
Figure compares to 8.5% registered in the same period the preceding year