Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
CBE directs increasing banks’ contributions in Decent Life initiative
Banks inject EGP 826m in finance to 17,000 small, micro enterprises within 9 months
Banks in Egypt show strong recovery indicators from COVID-19 repercussions in 2021
Net profits of banks increase to EGP 107.132bn in December, compared to EGP 88.103bn in September 2021: CBE
CBE receives 33 bids worth $1.037bn for T-bills issuance denominated in US currency
The Central Bank of Egypt (CBE) received 33 bids from local and foreign investors worth $1.0379bn to cover the recent tender of treasury bills (T-bills) denominated in the US currency. The CBE put out this tender on Monday at a value of $850m for a period of 364 days, due on 3 January 2023. The …
Egypt launches foreign exchange trading with instant settlement system on 22 March
New system shortens time frame to execute payments in foreign currencies between banks in Egypt, reduces costs
Egypt’s foreign debt rises to $125.3bn in September 2020: CBE
Net foreign assets increase by EGP 125.9bn within four months
Banks to inject EGP 117bn into MSMEs until 2022 end: CBE
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
EGP 481bn increase in financial position of banks in Egypt during Q3 2020
CBE indicated that the capital of the 10 largest banks operating in the Egyptian market reached about EGP 120.822bn in September 2020
90% of Egypt’s foreign debts are long-term: CBE
At 33.5% of GDP, debt levels are within safe limits compared to 48.7% in Latin America and Caribbean, 47.5% in Middle East, Central Asia
EMs see rising capital inflows since May 2020: CBE
Monetary, financial stimulus policies and structural reforms alleviate pandemic’s consequences on neediest segments, support post-pandemic economic recovery
CBE simplifies bank account opening for individuals, micro enterprises
The move took place in cooperation with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU).
Egypt reports $69.96bn in foreign trade during 9M of FY 2019/20: CBE
Country’s imports recorded $49.012bn, while exports reached $20.953bn in same period
CBE reveals reasons behind July inflation decline
Annual headline urban inflation declines to 4.2% in July, from 5.6% in June 2020
Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021
Egypt’s net international reserves up $2.2bn in June to $38.201bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
CBE provides EGP 7bn guarantee for corporate financing
Initiative aims to benefit clients of industrial, agricultural, and contracting private sectors whose annual work volume/revenues amount to EGP 200m or more
CBE confirms financial soundness of banks operating in Egypt
Banking sector’s financial position reaches EGP 6.165trn, capital adequacy ratio increases to 18.6% in March 2020
CBE reviews interest rate amid expectations to remain unchanged
No strong prospects for inflationary pressures off of rising electricity prices or repercussions from exchange rate, says banking expert
April inflation increased due to unfavourable base effects: CBE
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE takes measures to reduce economic impacts of COVID-19
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
CBE’s Monetary Policy Committee convenes to decide on interest rates
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged
CBE considers engaging contracting sector in EGP 100bn initiative
Abdel Raouf added that attention must be paid to distributing the funds equally to all contracting sectors companies, regardless of their size.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted
CBE offers $800m in 1-year treasury bills on Monday
Proceeds cover a previous tender, worth $1bn, offered in May 2019
CBE highlights financial soundness indicators of local banking sector
Bank profits reach EGP 83.184bn last December: CBE
CBE highlights banks’ financial safety indicators
Bank profits reached EGP 83.184bn at end of December: CBE
CBE issues new controls on loan instalment postponement
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
January, February remittances increase by $1.3bn
The rise in remittances from workers abroad shows an increase rate of 33.6%, bringing the total amount of remittances in the first two months of the year to about $5.2bn. The latest figures compare to the roughly $3.9bn in remittances reported during the same two months last year.
CBE abolishes black lists, allows irregular customers dealings with banks
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision