Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
CBE implements measures to contain COVID-19 economic implications: IMF
Egyptian expat remittances, Suez Canal earnings, exports to fall
CBE temporarily regulates cash deposits, withdrawals
CBE sets daily limit for cash deposits, withdrawals in branches of EGP 10,000 for individuals, EGP 50,000 for companies
Initiative to postpone loan installments for 6 months applies to regular, irregular individuals, institutions: CBE
Initiative includes clients of financial leasing, real estate, factories , SMEs, personal loans, car loans, credit cards
CBE increases daily ATM withdrawal limits to EGP 30k, EGP 40k for individuals, companies respectively
The CBE added that issuing the prepaid cards to citizens will be free of charge for a period of six months, provided that the cards are contactless, if a bank starts issuing this type of cards.
Egypt’s gold reserves record $164m increase in February
Country’s net international reserves reach $45.51bn in February, compared to January’s $45.457bn: CBE
CBE doubles mortgage finance share to 10% total loan portfolio at banks
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
CBE reveals why Egypt’s inflation increased in January
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
CBE offers $900m in T-bills on Monday
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Remittances up to $2.3bn in October: CBE
Remittances increased to $9bn in July-October 2019
Capital flows return to emerging markets in September after August exit: CBE
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Banks’ credit facilities reach EGP 1.84trn November 2019
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
CBE supports tourism with three initiatives
Tourism is a major and important pillar for the national economy: CBE
CBE reveals Monetary Policy Committee formation led by Tarek Amer
Committee membership includes Negm, Aboul Naga, Omran, El Araby, and El Ahwany
CBE receives 38 bids to invest $966.9m in T-Bill auction
Growing value of gold reserves pushes FX reserves to its highest level at 2019-end
10 main tasks before CBE’s new board
New board includes financial, legal, technological and economic expertise alongside the governor, deputies
CBE raises limits on consumer loan instalments to 50% of borrower’s total monthly income
The CBE decided to keep the maximum for personal housing loans at 40% of the total monthly income.
CBE increases value of its tourism support initiative to EGP 50bn
Bank to exempt pre-2011 defaulters in tourism sector from marginal interests on their loans
Amer starts second term in CBE by launching three initiatives to support industry, medium income housing
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
Egypt’s FX reserves increase by $319m in November
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
Egypt’s government, CBE prepare to launch manufacturing support initiative
The initiative is expected to be announced next Wednesday
CBE to offer $1.56bn worth T-Bills in auction Monday
The proceeds of this issuance will be directed to repay the earlier T-Bills issuance launched by the CBE on 19 November 2018, valued at $1.703bn.
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s external debt jumps to $108.bn end-June: CBE
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Banks allocate EGP 122bn to face doubtful debts until June 2019: CBE
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
CBE authorises 28 banks to provide mobile payment services in Egypt: Amer
Subscribers reach 13.5 million by end-June, with a total value of transactions of EGP 20bn as of September
Economists unanimously believe CBE will cut interest rates on Thursday
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Bank deposits up by EGP 95.471bn recording EGP 4.007tr in June
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic public debt records EGP 4.205tr in end-March
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
Egypt’s core inflation falls to 6-year low of 4.9% in August
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
Net foreign reserves up $52.1m to $44.969bn end-August
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m