Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Government sought to decrease $60bn bill by ‘banning luxurious products’
Around $26bn of Egyptian imports are categorised as “essential”
International foreign reserves ends in 2015 with a slight increase
CBE’s international foreign reserves increase by $23m at the end of December
Government plans to borrow EGP 281.5bn from banks in next three months
Banks account for 75.5% of total releases of treasury bills and the largest percentage of bonds
Stock market expected to decline due to increase in interest rates
Stock exchange to face short wave of profits as a result of the increase of last 6 sessions with weak purchasing power
Egypt suffers under weight of excessive importing: Deputy CBE Governor
We spent $76bn on imports last year, of which $16bn did not come through banks
CBE pumped $8.3bn to cover imports between 29 October and 12 December: Amer
The Central Bank of Egypt (CBE) has pumped $8.3bn between 29 October and 12 December to cover import operations and pay foreign state dues, CBE Governor Tarek Amer said. Amer explained, during a CBE conference on Thursday, that the CBE is committed to paying off the state’s hard currency dues. He noted that Egypt did …
Local, international institutions offer to invest $1.5bn in Egyptian treasury bills
The CBE accepted $1.1637bn of this liquidity
Annual inflation rises to 11.8% YoY in November
Figure compares to 8.5% registered in the same period the preceding year
External debt drops $2bn over 3 months
Rate of increase in bank loans outstrips deposits for first time ever
Banks adopt strict measures to issue new letters of credit
The CBE evaluates the banks’ cooperation in providing the foreign currency through three factors
Amer seeks banks’ support to overcome dollar shortages
Official letter calls for banks to maximise foreign exchange, working with foreign partners
CBE issues exceptional offer to pump dollars in banks to meet import needs
Tarek Amer met with President Abdel Fattah Al-Sisi Wednesday to present his new action plan
Amer heads new CBE board meeting Sunday
Market awaits Amer’s new decisions on exchange rate, dollar deposit caps, and covering rest of temporary credit facilities granted by banks to importers
CBE to inject $1bn after new governor officially takes office
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
Ghabbour calls to decrease EGP value, prioritise industrial sector
Amer should treat exchange companies as partners, says Ghabbour
Presidential decree reshuffles CBE board
Gamal Negm, Lobna Helal appointed as Deputy Governors
Foreign investors: Between liquefying stock portfolios and awaiting ‘Amer’s manoeuvre’
Initial results indicate that foreigners are intensifying sales to make a profit margin from transferring their money abroad in dollars
Tarek Amer holds consultations to form CBE’s board
The head of a public bank is expected to serve as a deputy governor
Amer’s most prominent challenge is employing liquidity in local currency at banks
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
CBE will discuss future of interest rate on EGP
According to analysts, MPC is highly expected to keep the major interest rates at CBE unchanged for the sixth consecutive time during its meeting decided set for Thursday.
Forex suspended in anticipation of new CBE governor’s decisions
Black market records EGP 8.30 for dollar, while banks maintain it at EGP 8.03
Trade balance deficit increases by 38.8% YoY in July: CAPMAS
Egypt’s trade balance continues to face a deficit, despite the state announcements on attempts to counter this recurring problem
Credit cards increase to 2.575 million by end of June: CBE
16.242m debit cards issued by banks operating in Egyptian market until mid-2015 and 7,855 ATM serving customers
Will Amer change Ramez’s monetary policy and exchange market management?
Analysts expect the new governor to amend some of Ramez’s decisions
Tarek Amer, new guardian of the Egyptian pound
Expectations of a decline in dollar price on parallel market after departure of Ramez
More than EGP 39bn increase in volume of deposits in July: CBE
Banks support their allocations to meet doubtful loans and reduce its investments in security
28 banks offer to invest EGP 225.98bn of surplus liquidity in CBE deposits
The CBE raised the Deposit Operation mechanism on Monday, in order to absorb excess liquidity from banks operating in the Egyptian market.
$63.27bn worth of international trade between Egypt and world in 9 months: CBE
The US and China are Egypt’s largest trading partners, the UAE is the third largest
United Bank seeks new, strong banking entity: Abdel Hamed
The bank aims to finalise bad debts portfolio, spread its branches and services throughout the republic
Government plans to borrow EGP 281.5bn from banks in coming 3 months
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December