Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Acting CBE Governor appoints Hisham Ezz Al-Arab and Mohamed Naguib as advisors
Central Bank of Egypt Acting Governor Hassan Abdalla has appointed Hisham Ezz Al-Arab, the former president of the Commercial International Bank (CIB), and Mohamed Naguib, the former head of the saib Bank, as his advisors. This came during a meeting held by Abdalla on Wednesday with the current leaders of banks operating in the Egyptian …
Central Bank of Egypt reveals reasons for high inflation in March 2022
Annual urban inflation jumps to 10.5% in March 2022, marking highest rate since June 2019
Central Bank of Egypt to review base rates on Thursday
Strong expectations that CBE will keep base rates unchanged
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.
Central Bank of Egypt issues $1bn worth T-bills
Proceeds of tender directed to pay for previous issuance worth $1bn in 2020
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.
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
Central Bank of Egypt receives 33 bids worth €792m for euro-denominated T-bills
CBE accepts 27 offers, worth €622m, with average interest of 1.396
Central Bank of Egypt to offer €600m worth T-bills on Monday
Proceeds of this issuance will be directed to pay for previous bid launched on 18 August 2020, with value of €605.3m
Central Bank of Egypt sets unified definitions for active, dormant bank accounts
Banks to be allowed to close accounts in case of year-long inactivity since balance fell to zero
Central Bank of Egypt explains reasons for fixing interest rates for 6th consecutive time
Initial indicators show continued improvement in most economic sectors: Monetary Policy Committee
Central Bank of Egypt directs local market to abide by sustainable financing principles
Achieving SDGs requires banks directing financing to more sustainable economic activities
Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt
Continued rollout, development of vaccines is expected to support global economic recovery
Central Bank of Egypt initiates EGP 100bn mortgage finance initiative for low, middle incomers
Initiative offers unprecedented facilities, 3% diminishing interest, and longest repayment period up to 30 years
Central Bank of Egypt regulates commercial registration, documentation at banks
Step comes in light of strengthening cooperation between banking sector, ITDA, Notary Public
Central Bank of Egypt extends precautionary measures against COVID-19 to 2021 end
This will see the precautions in place until 31 December 2021, rather than 1 July.
Central Bank of Egypt receives 24 bids worth $540.6m for T-bills in US dollars
Proceeds of this tender will be used to pay for previous tender launched by CBE on 9 June 2020, for which it obtained $509.3m
Central Bank of Egypt renews warnings against cryptocurrency
Bank calls upon dealers in Egyptian market to be very careful, not to engage in high-risk informal currencies
Central Bank of Egypt directs for simplified bank account opening procedures
Facilities will be provided for small companies to open accounts
Central Bank of Egypt expected to maintain base interest rates next Thursday
Main factor affecting direction of interest rates on Egyptian pound is inflation situation during coming period, says Mohamed Abdel-Aal
Egypt’s net international reserves increase to $40.2bn in February: CBE
FX reserves increase by about $363m to $35.905bn in February
CBE amends provisions of tourism initiative guaranteed by Finance Ministry
New amendment stipulates that initiative would end after exhausting amount allocated or by June 2021, whichever is closer
CBE reveals commodity prices’ movements in January 2021
Vegetable prices fell by 23.6% for second consecutive month
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
CBE offers 1-year T-bills bid worth $980m on Monday
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020
Environment Minister, CBE Head discuss financing waste to energy industry
Meeting came as 1st phase of projects begin with investment of $325-390m
Central Bank of Egypt to review interest rates for 1st time in 2021 on Thursday
In its last meeting for 2020, Bank decided to maintain deposit and lending rates at 8.25% and 9.25%, respectively
Net foreign assets in banking sector rise EGP 20.991bn in December 2020
Household sector added EGP 643.108bn in local currency deposits during 2020
Egypt records 5% average headline urban inflation in 2020: CBE
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Egypt’s annual urban headline inflation declines to 5.4% in December 2020: CBE
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020