Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
World Bank to present mortgage system plans in Egypt
Bank participates in social housing programme providing $500m towards 1m housing units for low-income citizens
CBE decreases issuance of weekly FX auctions
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
EFSA preparing 1st real estate financing federation elections
The Egyptian Financial Supervisory Authority (EFSA) is participating in the “Mortgage Development Partners” conference, taking place on 12 May, as part of the “Partnership for Development” initiative. The conference targets community dialogue involving all professional sectors interested in mortgage activities and benefiting from it. It will discuss the opportunities and challenges facing the mortgage system …
EGP 1.6tn deposits in banks: NBE chairman
Eastern Mediterranean countries experiencing revolutions, war and bombings losses amounted to $250bn, says IUAB chairman
$6bn in Gulf deposits temporarily eases Egypt’s economic burdens
Analysts say GCC deposits beef-up foreign reserves and boost local currency
Egypt yet to receive Arab deposits: CBE governor
Hisham Ramez’s comments to Reuters come in wake of reports alleging receipt of Kuwait’s $2bn in deposits
Banks need to meet SMEs needs: CBE Deputy Governor
Financial innovation by introducing new financial instruments that meet consumers ‘and investors’ needs enhances Egypt’s economic competitiveness, Mona El-Baradei
Egypt’s farmland offers minimal incentives to Arab investors
The situation is not any better with regards to Western investors’ interest in Egypt.
Banque Misr registers highest net profit in its history
Bank assets to reach EGP 15bn after the approval it received from the CBE
CBE halts Egyptian automotive market
Most companies working in the automotive sector confirmed fears that if the situation continues will lead to a new and unprecedented disaster for the automotive sector.
CBE cuts margin to trade US dollar with local lenders
Step seen to further throttle waning black market
Orders from Emir of Kuwait to immediately deposit $2bn at CBE: Kuwaiti Finance Minister
Kuwaiti Minister of Finance Anas Khalid Al-Saleh said that he received orders from the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, to immediately begin depositing $2bn at the Central Bank of Egypt (CBE). On the first day of the Economic Summit in Sharm El-Sheikh, the Emir announced that Kuwait will provide an aid package …
Saudi Arabia, UAE, Kuwait strong backers of Egypt’s economy
Overview of Gulf aid to Egypt in the new era
Piraeus Bank Egypt to focus on energy projects financing
Piraeus Bank in Egypt is targeting the financing of major projects during the Economic Summit this month. Naira Amin, Chief Executive and Managing Director of Piraeus Bank Egypt, said the bank is giving special attention to joint finance projects proposed by the Egyptian government in the summit. Amin added that financing will be led by …
Government limits collection of value of commodities, services to EGP: Cabinet
Prohibition does not apply to tourists in Egypt, said Cabinet spokesperson
NBE to grant credit for 640 housing units
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms
United Bank to allow paying taxes, customs through branches
The United Bank will introduce in all branches a service for paying all government dues, such as individual and company taxes and customs, the bank’s chairman Mohamed Ashmawy revealed Thursday. The move comes in cooperation with the Ministry of Finance. Ashmawy stressed the significance of enhancing electronic payments in Egypt, instead of depending on traditional …
Economy recovering, EGX records show: Dcode EFC Report
Egypt’s economic recovery has been demonstrated by its EGX30 records according to a Dcode Economic and Financial Consulting (Dcode EFC) report, released in this month. The report specified that measures were taken by the Egyptian Financial Supervisory authority (EFSA) and EGX that helped in providing simpler listings rules. The measures included the release of rules …
Egypt to repay $1bn to Qatar in October
The $1bn was the remaining amount of Qatar’s deposit at the CBE. In November, Egypt repaid a deposit worth $2.5bn to Qatar based on a formal request from Doha
Foreign reserves increase $96m in January
Egypt repays $681m to Paris Club in January
Following deposits’ ceiling, dollar to remain stable until March summit: Officials
CBE placed ceiling deposit of $10,000 per day and $50,000 per month
Dollar records EGP 8 on unofficial market, EGP 7.53 officially
Gap widening between official, unofficial dollar selling despite increasing CBE dollar auctions
Dollar’s unofficial market still precedes official by EGP 0.16
$1 is EGP 7.59 on official market, EGP 7.75 on black market
$1 reaches EGP 7.47 on official selling market
CBE’s Monday dollar auction ended with $1 standing at EGP 7.43
Pound value depreciation continues, dollar reaches EGP 7.34
Dollar’s value increases to EGP 7.38 at NBE and Banque Misr
Oil diminishes interest rates
By Ahmed El-Wahsh Central Bank of Egypt (CBE) director, Hisham Ramez took the decision of unexpectedly cutting nationwide interest rates by 50 basis points on the inflation expectation. This decision was implemented due to the current volatility of the crude oil prices per barrel that had been fluctuating, since the organisation of the petroleum exporting …
Falling EGP confirms Central Bank’s optimism, ensures foreign investors: DCode Consulting
On Thursday, the CBE’s Monetary Policy Committee lowered the interest rate for deposits and loans by 50 points in one night, to reach 8.75% and 9.75%, respectively.
EGP exchange rate drops against dollar
Dollar exchange rate is up 10 piasters in 2 days in Egyptian banks following latest auction by CBE on Sunday to sell $40m at EGP 7.1901 per dollar
Gamal Negm addresses concerns over mass resignations of banking heads
More than 150 banking leaders submitted their resignations in recent days in an objection to the application of a maximum wage.
SMEs priority for finance ministry
Dimian revealed a study conducted by the government to set out a system of integrated incentives to bring about a “renaissance” for SMEs in coordination with the Ministry of Trade, the Social Fund for Development, and the Central Bank of Egypt.