Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Banks adhere to cash dividends halt in Egypt to support capital base
Decision aims to maintain banking sector’s integrity, take proactive steps to meet potential risks, say bankers
Central Bank of Egypt explores ways to salvage tourism amid COVID-19 crisis
The Central Bank of Egypt (CBE) Governor, Tarek Amer, has held a high-level ministerial meeting to discuss methods of supporting the tourism sector during the novel coronavirus (COVID-19) pandemic.
Central Bank halts cash dividends at banks in anticipation of continued pandemic
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
Egypt’s external debt rises to $125.3bn in September 2020
Long-term dues account for 90.2% of country’s total external debt
Measures adopted by central banks, governments mitigate COVID-19 impact on global economy: CBE
Outlook for near term growth in global economic activity expected to be affected by second COVID-19 wave, preventive measures
Central Bank of Egypt directs for accelerating financial transfers
Intra bank transfers to be carried out in 2 hours, while interbank transfers in 3 hours
Egypt’s net international reserves rise to $40.062bn in December 2020
FX reserves increase by about $364m to $35.399bn in December
Central Bank of Egypt issues instructions to manage operating risks at banks
The Central Bank of Egypt (CBE) has issued new instructions regarding the management of operation risks at banks working in the Egyptian market. The CBE also said that it is continuously following up on and applying international practices in the field of banking supervision in the Egyptian banking system. This takes place by regular observation …
Egypt’s central bank allocates EGP 15bn to finance dual-fuel vehicle conversions
According to the central bank imitative loan period ranges from seven to 10 years, with the repayment to be made in equal monthly instalments
Central Bank of Egypt receives 35 bids worth $1.0511bn for latest T-bills tender
The Central Bank of Egypt (CBE) has announced it has received 35 offers worth $1.0511bn from local and foreign investors, to cover a US dollar-denominated Treasury bills (T-bills) auction.
Central Bank of Egypt extends initiatives to support individual, tourism defaulters until June
The Central Bank of Egypt (CBE) has decided to extend its initiatives to support defaulters, whether individuals or tourism companies, for a further six months.
Central Bank of Egypt to issue $850m worth T-bills tender on Monday
The Central Bank of Egypt (CBE) will issue, on Monday, a tender for one-year US dollar-denominated Treasury bills (T-bills), worth $850m, due on 4 January 2022.
High solvency, liquidity enable Egypt banking sector to function successfully amid COVID-19: Central Bank
Banking sector has witnessed high financial stability in past years, allowing it to deal with many crises, contain their repercussions
Portfolio investment flows to EMs to recover slowly in 2021: CBE
Egyptian economy contained reversal in portfolio investment flows thanks to its relatively stable foreign currency sources and large net foreign reserve
Central Bank of Egypt extends measures to contain COVID-19 repercussions until June 2021
Extension reflects CBE’s keenness to protect national economy, preserve gains of reform
Central Bank of Egypt targets average inflation rate at 7% (±2%) in Q4 of 2022
Central bank to continue using monetary policy tools to control inflation expectations, and to containing inflationary pressures from the demand side
Egypt’s central bank leaves interest rates on hold
Central Bank of Egypt new inflation target has been set at 7% (±2%) on average in the fourth quarter of 2022
Egyptian banking sector achieves EGP 45.549bn net profits in September
Top 10 banks in the Egyptian banking sector account for 65.5% of profits, top 5 banks account for 46.1%
Central Bank of Egypt to hold 8 monetary policy meetings in 2021
CBE to discuss future interest rates of Egyptian pound next Thursday
Central Bank of Egypt allocates EGP 1bn to deploy 300k POS nationwide
We aim to reach 1 million POS within three years: CBE Deputy Governor
Central Bank of Egypt extends tourism, retail loan initiatives to 2021 end
Tourism businesses welcome CBE decision, call for more flexibility in private sector banks
Central Bank of Egypt to offer $1bn worth T-bills on Monday
The proceeds of this bid will be used to pay the value of a previous bid put forward by the CBE on 10 December 2019, through which it obtained $1bn.
Agricultural Bank of Egypt targets 30-million customer base over 5 years
Financing programme for needy families, rural women, and craftsmen to be launched soon
Egypt’s account deficit declines 39.2% in Q1 of 2020
The improvement comes despite the uncertainty in the global economy which has resulted from the spread of the novel coronavirus (COVID-19) pandemic.
CBE allowed to practice central depository, registration of government securities
New law opens door for privatisation of central depository and registration process
HC expects CBE to preserve current rates at upcoming meeting
Doss added, “Less working hours have also disrupted production activity possibly leading to relative supply shortages of some goods also posing inflationary pressures.”
Egypt’s annual core inflation on hold at 1.9% in March: CBE
The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.
Egypt’s payments balance reaches $410m surplus in H1, FY2019/20
Net FDI rose $773.8m to record net inflow of $5bn by H1 of FY2019/20
Over 5 million beneficiaries for loan installments postponement: CBE
Banks reveal initiative details initiative, microloans in trouble
Banks implement CBE’s initiative delaying loan instalments for individuals, companies
CBE included microfinance sector in the initiative on Monday