Latest in Tag: Central bank of Egypt (CBE) Highlight
Latest in Tag: Central bank of Egypt (CBE)
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
ABE general assembly adopts bank’s articles of association
Assembly decision last measure to complete implementation of Law 84 for merger of Upper, Lower Egypt banks into main bank: Elkosayer
Ambiguity surrounding CBE’s decision on interest rate in Sunday’s meeting
IMF confirms that using interest rate is the right tool to face inflation in Egypt, the market excludes the possibility of increasing the interest rate
Food commodity price hikes push inflation to its highest since 2005: CBE
Recent CBE reports explain inflation hitting 25% at end of December 2016
The misconception of sustainable development in Egypt
In order to be able to discuss sustainable development in Egypt, we must first be in agreement as to what sustainable development means. The scientific and international concept of sustainable development can be defined as development that meets the current needs of humans without compromising the ability of future generations to meet their own needs. …
CBE allows banks to direct part of US dollar-denominated proceeds to cover temporary overdrafts on customer accounts
The Central Bank of Egypt (CBE) has allowed banks working in the domestic market to direct part of their proceeds denominated in US dollars to cover customers’ temporarily overdraft accounts. According to the CBE’s instructions received by banks on Tuesday, after covering imports on essential goods banks can direct 50% of their hard cash towards …
US dollar price falls even further at CBE, banks while EGX profits EGP 9.3bn
The price of the US dollar dropped below EGP 16, with expectations that it will continue to decline
Floating the Egyptian pound is an excellent step: Naguib Sawiris
Sawiris called on the Egyptian people to support the CBE’s decision
CBE raises price of US dollar to EGP 8.85
Banks will sell US dollars at EGP 8.95, up from EGP 7.83
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
Egypt’s foreign reserves lose $1.76bn in September
International reserves record lowest level in 1.5 years
UAB conference on role of financial inclusion in promoting stability starts
The conference, hosted in Sharm El-Sheikh, is being held in cooperation with the Central Bank of Egypt (CBE) and the Federation of Egyptian Banks (FEB).
CBE determined to eliminate parallel currency market, make speculators incur heavy losses: Ramez
The bank is able to face all challenges in spite of unfavourable circumstances over the last four years
CBE’s policies limiting hard currency cash deposits leads to disaster: Exporters, importers
There is large exit for local investments from market because of production cessation and losses, says Engineering Industries Export Council head
Egyptian foreign reserves down more than $1.5bn, at $18.5bn
Government has to pay $250m in September as dues of bonds issued in international market
CBE stabilises US dollar against Egyptian pound for 4th consecutive time
Dollar price stabilises between EGP 7.78 and EGP 7.83 at banks, and EGP 7.88 at exchanges
EGPC, Suez Canal, CBE have EGP 35bn tax arrears: Tax Authority Head
Matar says amount to be collected within current fiscal year
Domestic liquidity rises by over EGP 1bn
The figures show that domestic liquidity now registers EGP 1.109bn (7.3%) during the first half of fiscal year (FY) 2014/2015.
Central Bank of Egypt cuts key CBE rates by 50 basis points
CBE explained that it has reduced its overnight deposit rate, overnight lending rate and the rate of CBE’s main operation to 8.75%, 9.75% and 9.25% respectively.
July’s CAPMAS inflation rate 0.18% higher than original figure
Annual urban consumer inflation amended to 11.04% instead of 10.61% in July
Egyptian Banking Institute kicks off sixth annual conference
EBI conference this year encourages banks to adopt more sustainable practices