Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Inflation down to 1.3% in September, compared to 1.9% in August: CAPMAS
The annual inflation rate in September changed to 14.6%, compared to 16.4% in August
Making currency exchange price more flexible is essential part of government’s programme: IMF
Egypt pledged to obtain half of bilateral funds and negotiations are ongoing, says Jarvis
Government plans to borrow EGP 324.5bn in Q2 of FY 2016/2017
Launch of treasury bills tenders for EGP 300.25bn, bonds worth EGP 24.25bn in last three months of year
CBE ends week without changing price of the Egyptian pound
The Central Bank of Egypt also did not hold an exceptional auction to sell US dollars to banks
CBE pledges to provide US dollars to import basic commodities for 6 months
The money will be used to import 200,000 tonnes of oil, 60,000 tonnes of meat, in addition to rice and sugar
Negm discloses CBE’s efforts to support SMEs through participating in Leasing Conference
The conference will be held in Cairo on 11 October
Contrary to market expectations, CBE fixes US dollar price in its regular auction
The bank directed the auctioned US dollar to cover imports of pharmaceutical products, vaccines, and medicine-related chemicals
Local market holds breath in anticipation of large devaluation of Egyptian pound
CBE may either offer exceptional US dollar tender or direct banks to increase the price of the US dollar on Monday
President Al-Sisi meets with CBE’s Governor
Amer said during the meeting that the initial agreement reached between Egypt and the IMF is moving forward as planned
CBE did not submit data we requested on EGP 200bn initiative: parliament SMEs Committee
We have yet to know the total allocated amounts and the map of the loans, said Abu El-Saad
Egypt’s banking sector is strong and capable of supporting economy, providing funding for projects: banking leaders
Positive effects from the IMF deal can already be seen, says Ozalp
The CBE’s strategy to encircle imports failed to save dollars
Egypt’s economy is linked to a number of imported raw materials, says El-Desoki
CBE ignores increasing inflation, keeps interest rate unchanged contrary to expectations
With this decision, the interest rate on deposit remains at 11.75% and the lending rate at 12.75%
$2.8bn payment balance deficit in FY 2015/2016: CBE
Current account deficit reaches $18.7bn, compared to $12.1bn in FY 2014/2015
What are the challenges facing the Egyptian economy in the eyes of dealers?
Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …
Only the Egyptian people can solve their current economic problems: ex-CBE governor
Egypt has lived through more difficult problems, but the collaboration between Egyptians and increased high-quality production helped overcome those problems, says Hassan
CBE expected to increase interest rate by 1% on Thursday
High inflation, application of VAT would raise Egyptian pound’s interest rate by 2% by the end of 2016, says analyst
NBE finances purchase of 12,500 low-income housing units worth over EGP 1bn
The CBE previously launched an initiative to stimulate mortgage funding for low-income citizens until the end of August
UAE deposit boosts CBE foreign exchange reserves by $1bn in August
The Central Bank of Egypt (CBE) revealed on Sunday evening that its foreign exchange reserves increased by $1.028bn at the end of August
Banks granted EGP 207.7bn more credit facilities over 11-month period: CBE
Industry sector accounts for 32.2% of the credit facilities; while only 1.4% went to agriculture
Household sector acquires 75.3% of total deposits in banks in May: CBE
The household sector acquired 75.3% of the total deposits in banks in May, according to a recently issued report by the Central Bank of Egypt (CBE). The bank stated in its report that the household sector acquired about 78% of the total local currency deposits and about 63.3% of the total foreign currency deposits. According …
HDB Loans portfolio amounts to EGP 8.7bn as of June: chairperson
Net profits of the bank reached EGP 394.7m in the first half of 2016, increasing 22.6% y-o-y, says El-Sebai
CBE provides 10-year interest-free loan worth EGP 31bn to 3 major banks
The loan is for supporting banks’ capital base and for adjusting the capital adequacy rate
CBE secures government needs of euros through €600m treasury bills tender
The CBE received 35 offers to cover the tender totalling €786.9m, and accepted 29 for €651.9m
Parliamentary committees approve PBDAC Act, transfer of its ownership to the CBE
We are awaiting the final vote; this move would restore the bank’s real role in serving Egyptian farmers, says bank chairperson Elkosayer
Total value of banknotes issued increases by EGP 10bn in May: CBE
Banknote issuance recorded its highest level to GDP since June 2015
Banks to finish classifying SMEs, microenterprises to be financed by end of August: I-Score head
Nile Rating Company, specialised in SMEs, has merged in I- Score, said Kafafi
The United Bank to be sold late 2016, early 2017: chairperson
The CBE received requests from a large number of international institutions to acquire the bank; it will shortlist the institutions that will examine the bank, said El-Kady
EGP 65bn increase in deposits at banks in May
The total volume of deposits at banks operating in the Egyptian market, aside from the Central Bank of Egypt (CBE), increased by EGP 65bn in May, registering EGP 2.079tn from EGP 2.014tn in April. The CBE’s monthly bulletin on the performance of banks in the Egyptian market showed that the total volume of governmental deposits recorded …
Loans granted by banks see EGP 60bn increase in May
The total loans granted by banks to their clients, aside from the Central Bank of Egypt (CBE), increased by EGP 60bn to register EGP 920.7bn in May, compared to EGP 860.7bn recorded in April. A CBE bulletin on the performance of banks over May stated that the size of loans granted to the government registered …