Latest in Tag: CBE Highlight
Latest in Tag: CBE
Clients must resolve problems before benefitting from CBE initiative: IDBE Chairman
Initiative allows banks to allocate an amount for new loans granted to clients who do not pay debts on regular basis with 5% of fund’s value
CBE to offer treasury bills worth $700m
CBE will allow local banks and foreign institutions to subscribe to the dollar bills with a minimum of $100,000 and its multiples
Demands continue for dollar liquidity for imports
CBE has pumped $4.8bn in liquidity since the start of 2015
CBE made bold decisions during Al-Sisi’s first year: Banking leadership
Decreasing the pound’s value against the dollar, limiting foreign currency deposits in the banks among CBE most daring decisions in past years
Al-Sisi and his government’s resume highlights
The new canal will be established to increase the Suez Canal’s capacity to 97 passing ships per day, up from the current rate of 49 per day.
CBE to fix deposit, loan interest rates
Financial Policy Committee has fears over growth rates with the deflation of global economy
$35bn in Egyptian black market: CBE Governor
$2bn for Egyptian maize imports in 2014, says Ramez
Egyptian banking sector EGP 2tn in 2014: Fayed
Bank deposits increased 17%-20% over last three years, loans increased by 10%
CBE agrees to cover 50% of foreigners’ money upheld in Egyptian market since 2013
There has been a crisis in upholding foreign traders’ money in the EGX and not transferring it, even two years after settling the purchase operations of shares, bonds, and treasury bills of foreigners.
CBE continues pumping dollar liquidity to cover banks customers’ foreign currency demands
The CBE granted the banks $98.6 in an auction launched Sunday
Cash reserves fall by $1bn in May: CBE
Government works to attract investments of between $6bn-$8bn by the end of 2015 to push reserves growth
$1bn deficit in payment balance in first 9 months of FY 2014/2015: CBE
The figures compare to a surplus of $2.2bn during the same period of FY 2013/2014
CBE controls importers’ manipulations
Banks activate automated “Model 4” to determine real importing demands
CBE to investigate future of interest rates
The market expects MPC to fix both loan and deposit rates
13.9% growth rate of banks’ foreign deposits during March: CBE
Market witnessed competition in attracting foreign currency savings, according analysts
EGP 23.3bn increase in bank loans in March: CBE
The private sector acquired 80.8% out of the total loan balances
External debt declines to $39.9bn in March: CBE
March’s figures compare to June 2014, where debt amounted to $46.1bn
Initiative to postpone payment of tourism dues to end of this year
Losses of tourist activity nears $10bn over the past four years, using 2010 a standard to measure tourism income in Egypt
ABK acquires Piraeus-Egypt for $150m
Al Ahli Bank of Kuwait acquires 98.5% of Piraeus Bank – Egypt shares
Global Islamic Funds expected to grow to $77bn by 2019
84% of total Islamic AUM held in eight countries, Saudi Arabia and Malaysia account for 69% of total AUM, says a Thomson Reuters report
Egypt targets $6bn-$8bn FDIs for FY 2014/2015: Salman
Stock exchange tax must be stopped to deepen the market, executive regulation of investment law to be ready within a month, says Salman
Central Bank of Egypt leans on currency devaluation
By Oxford Business Group A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading. The controlled devaluation of the currency earlier this year from EGP 7.14 to EGP 7.62 to the dollar has …
Standard & Poor’s positive outlook on Egypt reflects well on investment: Economist
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
CBE, EFSA cooperate for financial education programme
The proportion of Egyptians dealing with banks is 10%, says EBI executive director
Piraeus Egypt has highest retail banking portfolio growth for 2014
The slowdown rate in Piraeus Bank-Egypt’s credit portfolio has declined, according to Retail Director Iman El-Essawy. She added that a plan, strategy, and new programme for credit have been prepared, which were approved by the mother company in Greece, and new loans were also offered to citizens. El-Essawy said that the growth of the retail …
Procedures for 1st mortgage union to be finalised before Ramadan: EFSA Head
CBE allocates EGP 10bn to revive mortgage initiative, expected to be spent within 12 months, says Deputy Governor
World Bank to present mortgage system plans in Egypt
Bank participates in social housing programme providing $500m towards 1m housing units for low-income citizens
CBE decreases issuance of weekly FX auctions
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
Egypt’s foreign reserves post largest rise since December 2011
International foreign reserves jumped to $20.5bn at the end of April 2015, compared to $15.29bn in previous month
EFSA preparing 1st real estate financing federation elections
The Egyptian Financial Supervisory Authority (EFSA) is participating in the “Mortgage Development Partners” conference, taking place on 12 May, as part of the “Partnership for Development” initiative. The conference targets community dialogue involving all professional sectors interested in mortgage activities and benefiting from it. It will discuss the opportunities and challenges facing the mortgage system …