Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
CBE issues new regulations for financing agriculture, industry medium enterprises
The Central Bank of Egypt (CBE) issued on Wednesday the regulations for implementing the initiative to finance medium enterprises operating in the sectors of agriculture and industry
Small and medium business solutions of the digital age
Egyptian entrepreneurs and banking experts create innovative solutions for credit underwriting of SMEs
Banking sector provides $33.7bn to cover needs of state, importers in 7 months: CBE’s Governor
Amer demonstrates with Al-Sisi the CBE’s efforts to support foreign exchange reserves and banks’ role to alleviate foreign currency crisis in the market
Banque Du Caire finances the purchase of 6,229 housing units for low- and middle-income individuals by end of May
The bank contributes EGP 6.5bn in the syndicated loan arranged for the benefit of the Social Housing Fund, says El-Zahid
$53m decrease in value of gold listed in foreign exchange reserves in May: CBE
The CBE announced on Wednesday evening that its foreign exchange reserves increased by $510m in May, registering $17.520bn, compared to $17.010bn in April
$510m increase in Egypt’s foreign exchange reserves in May: CBE
The Central Bank of Egypt (CBE) announced that foreign reserves increased by $510m during May, to register the eighth monthly consecutive rise. In a press statement released on Wednesday, the CBE said that foreign exchange reserves rose to $17.520bn in May, compared to $17.01bn in April. The CBE did not reveal the reasons for this …
IMF to appoint Rania Al-Mashat as advisor in August
The Central Bank of Egypt hired Al-Mashat from the IMF in 2005
Allocation for CBE’s dollar tender reaches 22.99% on Tuesday
The CBE sold $118.7m US dollars at a fixed price of EGP 8.78
Private sector accounts for 59.3% of credit facilities granted by banks to clients: CBE
Industry at forefront of economic sectors funded by banks followed by services, while the agriculture sector came last
CBE provides $120m to cover pharmaceutical product import requests
The CBE called banks to cover their customers’ requests with the US dollars they obtained from the weekly tender, according to the assistant general manager of the financial sector at a private bank operating in Egypt, Osama El-Menilawy
Federation of Egyptian Banks and lost independence
When I read the Central Bank of Egypt (CBE) Law No. 88 of 2003, known as the Banking Law, I could not help but notice Article No. 44 regarding the Federation of Egyptian Banks (FEB).To save the effort of interpreting the law for non-specialists, I will list a summary in the following points: The CBE …
Some banks find it difficult to implement the CBE’s SME financing initiative due to lack of specialised staff, geographical spread
Doubts about the continuation of these projects in Egypt in wake of the recession and economic problems that even big companies cannot cope with, says Abdel Aal
SME Banking Egypt 2016 begins on Monday under ‘Roadmap for the Future’
Daily News Egypt to monitor major challenges facing the banking sector and provide a comprehensive vision to support it
NBE granted EGP 1.65bn to 2,663 small and very small enterprises over 4-month period: deputy chairperson
73% of the enterprises were granted loans to expand their activities, 27% of the financed enterprises were newly established
Local, international institutions offer to invest $1.5bn in treasury bills
Interest rate on bills stabilised at same level as the CBE’s latest tender in February
Issued credit cards increased to 2.813m at December’s close: CBE
Top five banks operate 97% of electronic points of sale and 63.7% of ATMs
NBE, CIB, Banque Misr, QNB Al-Ahli, HSBC hold over half of banking sector’s total profits as of December 2015
The CBE said in a recent report that the net profit of the banks operating in Egypt reached EGP 35.882bn as of the end of December 2015
CBE expects UAE deposit before end of May
The CBE’s governor says Egypt has not received any deposits from abroad since he took the helm in November 2015
CBE fixes dollar price in Tuesday auction, dollar remains stable in informal market
Through its weekly auction, the CBE sells dollars to banks working in the local market. On Tuesday, banks were auctioned$118.7m, and sold to their clients at a rate ofEGP 8.88 to the dollar
Banks operating in Egypt record EGP 35.88bn net profits in 2015: CBE
Non-performing loans fell to 6.8% of total, 99% of which are covered by provisions
CBE maintains EGP interest rate
The CBE interest rates are the main index for interest rates on the Egyptian pound in the local market.
Meetings to determine fate of closed companies, restore stability to exchange market
CBE signed a penalty on the violating companies, which are ready to close if such actions are in favor of the state, says Al-Abyad
EFSA proposes financial services companies be involved in CBE microfinance initiative
Financial services companies with experience in financing small businesses can link banks to clients, says EFSA chairman
High interest rate hinders banks in Egypt from obtaining foreign loans
Foreign institutions require high return interest rates of 5.5%, which is unsuitable for banks, says ADIB Capital CEO
Banks lack clear vision in application of capital conservation buffer ratio
The capital conservation buffer ratio is intended to strengthen a bank’s main capital base to ensure a bank can cover losses that may arise during periods of economic or financial crisis
Amer denies plans to devalue Egyptian pound after its price falls in informal market
While the dollar is scarce, trader’s speculation has also driven inflation, says banker
International purchase of treasury bills falls to lowest since 2011: CBE report
The CBE will institute a hedging mechanism with a unified dollar exchange rate to attract international purchase of government debt instruments in April, says analyst
NBE loans EGP 1bn to 1,734 micro and small-sized enterprises in February, March 2016
The bank provided EGP 23.4bn to 48,000 SMEs through of March 2016
Prime Holding publishes recommendations on reducing Egypt’s $60bn import bill
Egypt can reduce its value of imports by $20bn, the paper suggests
Banking expert warns against further EGP devaluation, unless CBE is prepared
The CBE should have enough dollar liquidity to control the market, otherwise the dollar exchange will jump commensurately, says Abdel Aal