Latest in Tag: CBE Highlight
Latest in Tag: CBE
Standard Chartered to open 1st branch in Cairo next September: CBE
British bank will open another branch in Alexandria next year
CBE sponsors 3-year programme to raise efficiency of microfinance associations
Programme will be implemented by EFFMSMP in cooperation with IFC
Foreign investors pump $970m into Egyptian market in 2 weeks: CBE
Investments include long-term bonds, treasury bills
Average annual headline urban inflation recorded 5.2% during 2021: CBE
During the first four months of 2021, annual inflation recorded muted rates below 5% due to broadly muted monthly inflation rates — for instance, monthly headline inflation in January 2021 was as low as negative 0.4%, in addition to favourable base effects created by high inflation rates recorded at the onset of the pandemic in early 2020.
Egyptian banking sector handles pandemic’s repercussions efficiently: CBE
Banks adopt special measures that result in growth of their credit, investment portfolios
CBE launches integrated information security centre to predict cyberattacks
Bank keen to strengthen cybersecurity system, ensure their compliance with global standards: Sherif Hazem
CBE approves launch of e-portal for smartphone wallet management
There are over 25 million e-wallets now in Egypt, with 27% growth since 2020
CBE receives 33 bids worth $1.037bn for T-bills issuance denominated in US currency
The Central Bank of Egypt (CBE) received 33 bids from local and foreign investors worth $1.0379bn to cover the recent tender of treasury bills (T-bills) denominated in the US currency. The CBE put out this tender on Monday at a value of $850m for a period of 364 days, due on 3 January 2023. The …
CBE’s assets increase to EGP 2.412trn in November 2021
According to the CBE’s financial position report for November, the bank’s balances increased to EGP 312.8bn in November, up from the EGP 289.574bn recorded in June.
Net foreign assets of banking system increase EGP 23.923bn in September 2021: CBE
Household sector accounts for 83% of total bank deposits, while private business sector receives 60.1% of credit facilities
CBE extends emergency decisions to deal with COVID-19 repercussions to June 2022
CBE decides to extend initiative to support tourism sector for additional year until late December 2022
CBE explains fixing interest rates for 9th time in row
Keeping policy rates unchanged remains consistent with inflation target of 7% (±2%) on average in 4Q 2022, price stability in medium term
CBE to decide fate of local interest rates heading into 2021-end
Monetary Policy Committee expected to keep base rates unchanged for ninth time in row
$222m increase in Egypt’s FX reserves during November 2021: CBE
Gold reserves also grow by $5m, while SDRs decline $197m
CBE launches EGP 5.5bn initiative to finance transition to modern irrigation
Initiative targets switching 4 million feddan to modern irrigation through loans from NBE, ABE
CBE directs banks to increase operation financing for companies in light of global prices hike
CBE Governor urges banks to end financial disputes with companies, individuals
CBE’s decision to increase women representation on bank boards is highly praised
Decision comes within permanent efforts of CBE to empower women economically, show confidence in their abilities: Maya Morsi
CBE amends instructions on bank governance, board formation
Maximum two terms for non-executive board members, with limit of six consecutive or separate years
CBE to issue $1.6bn worth T-bills on Monday
Proceeds of bid directed to pay previous tender worth $1.585bn
Keeping policy rates unchanged remains consistent with 7% (±2%) inflation target: CBE
Yields on Egyptian Eurobonds have been broadly stabilized in August 2021 after inching up in July 2021
CBE, GAFI, and I-Score agree to exchange data electronically, facilitate procedures for investors
Protocol facilitates investment procedures by directly linking banks to GAFI instead of current paperwork cycle
CBE approves instant payment network regulations, to be launched in current quarter
Regulations aim to allow payments sent between accounts at different banks to be credited, debited instantly, says Rami Abulnaga
CBE expected to keep interest rates on hold for eighth time in a row
The MPC periodic meeting comes amid strong market expectations that it will keep Egypt’s interest rates unchanged for the eighth time in a row, despite the rise in the inflation rate in the recent period, and there are expectations of a further rise in the coming period.
Financial position of banks in Egypt rises to EGP 8trn in end July: CBE
Deposits amount to EGP 5.837trn, credit facilities record EGP 2.855trn
Central Bank of Egypt reveals reasons behind high inflation in September
This comes as monthly headline urban inflation recorded 1.1% in September compared to 0.3% in September 2020. Consequently. While annual headline urban inflation recorded its highest rate of 6% for the first time since January 2020.
CBE announces financial soundness indicators of Egyptian banking system during H1 2021
Total financial position of banking operating in Egypt increases to EGP 7.948trn
Central Bank of Egypt reveals performance indicators of banking system in FY 2020/21
Total financial position of banks operating locally reaches EGP 1.54trn
Egypt sees 1 billion electronic banking transactions worth over EGP 2.8trn in FY 2020/21: CBE
CBE initiative for electronic payment has contributed to increasing POS terminals to about 700,000
Egypt’s special drawing rights jump by $2.646bn in August: CBE
The Central Bank of Egypt (CBE) has revealed that the balance of special drawing rights (SDRs) included in the net international reserves increased by about $2.646bn in August 2021, to reach about $2.847bn, compared to only about $200m at the end of July 2021. CBE revealed that Egypt’s net international reserves rose to $40.672bn in August 2021, compared to $40.609bn in July. According …
CBE approves EFG Hermes, Sovereign Fund’s acquisition of Arab Investment Bank for EGP 3.8bn
Acquisition to increase issued, paid-in capital of AIB to EGP 5bn