Latest in Tag: interest Highlight
Latest in Tag: interest
CBE provides 10-year interest-free loan worth EGP 31bn to 3 major banks
The loan is for supporting banks’ capital base and for adjusting the capital adequacy rate
In Cartoon: Egyptians unlikely to benefit from the recent IMF loan
Social housing unit owners protest against interest rate on maintenance deposit
Maintenance deposit is EGP 6,750, reaching EGP 12,000 after interest
Banks ignore CBE’s interest rate increase
CBE will not keep current rates and may be reversed in three months, given their negative effect, says analyst
Banks keep ignoring CBE’s interest increase
Limited changes seen at NBE, Banque Misr, Banque Du Caire, and IDBE, although return on treasury bonds and bills was raised by 1%
Banque Misr raises interest rate by 1% on deposits, 0.75% on savings accounts
The interest rates increase on the higher deposits, depending on the segments set by the bank
Absence of coordinating council in decision to increase interest rates
The CBE’s accompanying report on the decision was issued without Al-Mashat’s signature for the first time in 11 years
Banks to hold meetings on Sunday on the fate of interest rates following CBE decision
Banks will watch the decision’s impact’s yield on treasury bills and bonds before deciding their interest rates, Abdel-Fattah
Increase in interest rate threatens ability to attract investments, wastes opportunities
The deflationary policy will increase inflation and production costs will climb, says Tawfik
Public banks stop selling their 15% interest certificates on Sunday
The three state-owned banks have begun offering these certificates in mid-March 2016
CBE poised to lift interest on pound
The Monetary Policy Committee is holding its third meeting this year on Thursday to discuss the future basic interest at CBE
Carpooling app Raye7 looks to expansion plans as interest grows
70% of private cars in Greater Cairo have vacant places and Raye7 hopes to use this statistic to reduce traffic congestion
Private banks begin raising interest rates on saving schemes in pounds
The step came after public banks raised their interest rates and an increase occurred in the return on debt instruments by which banks invest most of their liquidity in pounds
Private banks wait on public banks to make first move to raise interest rates
Return on treasury bills for 3, 9 months increased after CBE lifted interest rate
Tourism investors call on banks to extend payment deadlines, reduce interest rates
CBE governor will discuss loan interest rates and postponing tourism sector’s overdue loans
Money pools spread to avoid interest rates on loans
Banks should offer new products and incentives suitable for low-income citizens, reconsider interest rate on loans and ease loans procedures, says El-Khawaga
High interest rates, lack of facilitated lands weaken mortgage finance initiative
Interest rates on financing units ranging from 14 to 17%, says Fikri
Ministry of Housing to allocate 5,000 land parcels in 10 new cities.
Draw entry fees are EGP 25,000 as down payment in cash or with accredited banking cheques in any Housing and Development Bank branch
CBE to investigate future of interest rates
The market expects MPC to fix both loan and deposit rates
Banks to begin paying returns for Suez Canal certificates Sunday
The value of the first instalment is estimated to be approximately EGP 1.9m
New ‘quartet committee’ to regulate financing and implementation of Suez Canal project
Government seeks to complete the development of the Suez Canal on schedule within its efforts to increase resources and reduce unemployment
Rise of interest rate to have limited effect on stock market: Experts
Economic experts give different reasons for the limited impact of the interest rate hike on the stock market
Returns on treasury bills rise, negative impact on economic growth expected
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
Credit Cards explained
The Daily News Egypt defines what credit cards are, analyses their presence in Egypt and interviews several experts on the matter.
Long term-loans taken out by government economic bodies up 3.3% year on year: CAPMAS
Increase of value of long-term loans can be attributed to Egypt’s unstable situation, says head of Central Budget Department for Economic Bodies
Central Bank of Egypt cuts key interest rates
Reuters – Egypt’s central bank cut its key interest rates by 50 basis points in a surprise move at a monetary policy meeting on Thursday. At its last meeting on 31 October, the central bank kept its rates on hold in an effort to balance inflation pressures while the government attempts to stimulate the economy. It had …
Egyptian Central Bank announces key interest rates will not change
Egypt’s Central Bank recently announced on its website that key interest rates on deposits and loans would remain unchanged after a meeting held by its committee for monetary policy.
Ministry of Finance to present its economic platform to the IMF shortly
MOF finalising the economic platform necessary for obtaining the $4.8b IMF loan
IMF Managing Director arrives in Cairo
Lagarde to meet Hesham Qandil, Morsy to discuss economic and reform programme
Iran claims testing of new short-range missiles
Defence minister: “These capabilities are defensive and would only be used against aggressors and those who threaten the country’s interests and territorial integrity”