Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Madbouly, Amer inaugurate 43rd session of Council of Arab Central Banks Governors, Arab Monetary Associations on Sunday
Meetings discuss latest economic, financial, monetary developments, banking supervision, financial stability, inclusiveness, and modern financial technologies, according to AMF
Banks issued over 31m e-payment cards in Egypt by end-2018: CBE
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Egypt repaid $25bn of debt in two years: CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
Limited interest rate cuts at banks’ on first business day following CBE decision
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Banks to start intensive meetings Sunday to discuss implications of interest rate cuts
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
CBE interest rates cut to positively impact businesses, EGX, banks to readjust
Experts forecasts further cut before end-2019, debt instruments remain attractive
37 local and foreign investors bid to invest €780.1m in Egyptian T-bills: CBE
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%
CBE to resume its monetary easing cycle in 4Q2019: Fitch Solutions
Future interest rate cuts to ease government’s debt service burden, say economic experts
Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE
Deposits up by EGP 1bn only as non-governmental deposits drop
Government debt to GDP in Egypt declines to 91% in Q1 of 2019 y-o-y: IIF
The state’s household debt to the GDP slightly decreased to 7.2% in Q1 of 2019, compared to 7.4% in the same period of 2018, the report added.
Capital re-flows into EMs starting Q1 of 2019, 11 months after fleeing: CBE
Direction of capital flows depends on outlook for economic activity rate of growth, development of global trade tensions
Rate cut essential to support growth, reduce debt service burden: Beltone
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Net consolidated profits of QNB end of June 2019 reach EGP 4.217bn
Bank accounts for 7.82% of loans, 5.17% of deposits in Egyptian banks by end-March 2019
Beltone expects CBE to keep interest unchanged
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
Gold in FX reserves up by $69m in June 2019
FX reserves increased to $44.352bn end of May: CBE
HC expects CBE’s MPC to keep interest rates unchanged
New electricity, fuel prices will hike monthly inflation: Saada
BOP overall deficit records $351.2m in July/March of FY 2018/19
The CBE revealed that the current account deficit registered $7.6bn and the capital and financial account unfolded a net inflow of $7.8bn in the reporting period.
CBE confirms strength of banks’ financial positions by end of 1st quarter of this year
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
New Era for Egypt: Ban on cryptocurrencies to be lifted
Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
CBE allocates EGP 50bn for mortgage finance for middle-income people
A mini committee was formed including representatives of the CBE, banks operating in the Egyptian market, and real estate developers to discuss mechanism of the rules of facilitating mortgage finance.
Al-Sisi appoints Fakhry Elfiky as CBE’s board member
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
New Banking Law prohibits establishment or operation of platforms for issuing, circulating e-currencies without license
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Banks’ credit facilities see EGP 206.7bn increase in last 8 months: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
New Banking Law requires 25 banks, 4 foreign branches to raise capital
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
US dollar loses over EGP 1 of its value since start of year
Expectations for US dollar to reach EGP 16.5
Banking draft law will not impose term limits on state-owned banks’ board members: source
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
Pundits expect CBE to hold interest rates unchanged on Thursday
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
Egypt’s domestic debt exceeds EGP 4tn in December 2018: CBE
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
Banking draft law to be sent to parliament for approval before end-May: source
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
Egypt’s external debt rises to $96.6bn by end of December: CBE
Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …