Latest in Tag: CBE Highlight
Latest in Tag: CBE
Amer requests bank leaders to support SMEs, arrange credit facilitations
Governor of the Central Bank of Egypt (CBE) Tarek Amer requested bank leaders operating in the local market to support small and medium-sized enterprises (SMEs) and arrange credit facilitations with corresponding banks abroad to finance import operations. Amer met with chairpersons of banks operating in the Egyptian market and their deputies Wednesday afternoon in the …
Ministries, CBE negotiate with foreign banks to postpone refunding installments
The Ministries of Petroleum and of Finance and the Central Bank of Egypt (CBE) are negotiating with foreign banks in Egypt to postpone or extend the period of paying the installments of dollar loans. The loans were taken by the Egyptian General Petroleum Corporate (EGPC), but it is currently unable to re- pay due …
External debt drops $2bn over 3 months
Rate of increase in bank loans outstrips deposits for first time ever
CBE asks banks to postpone loan premiums for tourism workers
Arrangements aim to help tourism workers hit by slump in the sector
Banks adopt strict measures to issue new letters of credit
The CBE evaluates the banks’ cooperation in providing the foreign currency through three factors
Banks criticise CBE’s FX Auction regulations
The regulations were a new shock to banks that did not obtain dollars from the CBE
Amer seeks banks’ support to overcome dollar shortages
Official letter calls for banks to maximise foreign exchange, working with foreign partners
Banks ordered to prioritise providing foreign exchange for vital exports
CBE demanded that local banks prioritise directing their foreign exchange liquidity to cover the importation of commodities
Foreign exchange reserves stable in November
Foreign exchange reserves were stable in November at $16.4226bn, the Central Bank of Egypt revealed Thursday. Foreign exchange reserves similarly did not record any changes in October under the leadership of former governor Hisham Ramez, amounting to $16.4148bn.
Cooperation is conditional for obtaining dollars: CBE to banks
Amer’s latest regulations for dollar availability act as a warning to uncommitted banks, experts say
CBE sets new regulations for dollar auctions
Banks acquisition of dollars is dependent on their efficiency in providing foreign exchange
CBE issues exceptional offer to pump dollars in banks to meet import needs
Tarek Amer met with President Abdel Fattah Al-Sisi Wednesday to present his new action plan
Amer holds first CBE board meeting after formation Thursday
The market is also awaiting any indicators from the CBE regarding the trend of local interest rates after the sudden movements taken by some banks in the last period.
Egypt settles $547m dues to foreign EGX investors: CBE
Decision expected to boost stock market indicators, says EGX Chairman
Banks fail to receive their share of CBE dollar auction
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
Banking sector rejects value-added tax, seeks CBE’s assistance
Sources believe Amer is likely to agree to Federation of Egyptian Banks memo to reject tax
CBE unable to meet EGPC’s dollar requirements
EGPC acquired $160m in October instead of $700m, says official
Amer heads new CBE board meeting Sunday
Market awaits Amer’s new decisions on exchange rate, dollar deposit caps, and covering rest of temporary credit facilities granted by banks to importers
Presidential decree issued to reform Coordinating Council for fiscal, monetary policies
President Abdel Fattah Al-Sisi issued a decree on Thursday to restructure the Coordinating Council that manages fiscal and monetary policies set out in Article 5 of the CBE, Banking Sector and Money Law
CBE to inject $1bn after new governor officially takes office
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
Outgoing CBE governor honoured by FEB
Since becoming CBE governor in February 2013, Ramez faced many challenges, most notably attempts by the Muslim Brotherhood to change the operations of the institution. He worked hard to maintain the bank’s independence throughout the controversial period.
Ghabbour calls to decrease EGP value, prioritise industrial sector
Amer should treat exchange companies as partners, says Ghabbour
CBE’s new board officially takes office next Sunday
Regulating exchange market is at the top of the new board’s priorities, says Ismail Hassan
Presidential decree reshuffles CBE board
Gamal Negm, Lobna Helal appointed as Deputy Governors
CBE regulates exporting rice
New decision by the bank lists rice among the commodities that should be exported through Egyptian banks
€1.142bn offered investments in Egyptian treasury bills
The CBE accepted €732.2m out of this liquidity
CBE offers treasury bills worth €700m
New tender to be issued for payment of old bills offered on 18 November
Dollar fixed for second time after CBE’s 20 piaster devaluation
Anticipating the central bank’s next move is difficult, says banker
CBE to cover 25% of banks’ temporary credit facilities granted to importers in foreign currencies
Banks are obliged to deposit the amounts the will obtain with the CBE, with interest
CBE intervenes to strengthen pound against dollar
Dollar fell in black market for hours until it suddenly stopped