Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
FX Reserves to external debt highest in 6 years: CBE
An additional $12.7m new increase in FX reserves, reaching $44.513bn by the end of November
CBE floats €675m T-bonds on Monday
Bonds bear maturity of 364 days, due on 12 November 2019
CBE to apply new obligatory entrepreneurship certification for bankers
Bank currently preparing another certification for business development services
CBE’s renewal of repurchase agreement with international banks to provide some support for FX reserves: Beltone
Company expects local currency will stabilise against dollar for rest of 2018, with possibility of slight fluctuation below EGP 18 per dollar
CBE enters $3.8bn financing agreement with consortium of international banks
The Central Bank of Egypt (CBE) agreed to enter into a new repurchase transaction with a consortium of international banks, for a total amount of $3.8bn, a final maturity of 4 years and six months, and an average life of 3 years, the CBE announced on Thursday. The consortium includes; Citigroup Global Markets Limited, Credit …
Banks inject loans worth EGP 35.861bn, attract deposits worth EGP 41.5bn in April 2018: CBE
Private sector acquired 61.7% of total loans, EGP 11.4bn increase in individual loans
CBE hosts 41st annual meeting of AACB
Meeting held for first time in Egypt, with 40 African delegations
Deposits up EGP 52bn, loans EGP 27bn end-February: CBE
Banks’ investments in stocks, bonds down EGP 37bn
CBE studying Swedish experience in becoming cashless society
Intensive meetings with Swedish central bank fintech experts, startups, payment service providers to discuss mutual cooperation, experience exchange
Falling inflation allows another interest cut: Beltone Financial
Despite rising interest rates in emerging markets, Egypt’s strong outlook, exchange rate stability justify continued opportunity to invest in fixed income instruments
Average of 30-40 bps cut in banks’ net interest margin expected following CBE cuts: Beltone
Lengthening durations of assets while shortening those of liabilities are key defense mechanisms
Banks begin intensive discussions to review interest rates on loans, deposits after CBE cut them
BM considering fate of 17% certificates, other savings vessels, says El-Damaty
CBE directs banks to stop granting credit facilities to medium companies within 12% initiative
Banks exhausted EGP 10bn allocated by CBE as part of initiative, says Negm
Egypt’s bank deposits rise EGP 55bn in November 2017: CBE
The Central Bank of Egypt (CBE) announced that total bank deposits rose by EGP 55bn in November 2017. This brought total deposits to EGP 3.273tn at the end of November 2017 compared to EGP 3.218tn in October 2017. The CBE said that non-government bank deposits also rose by EGP 50bn at the end of November …
Wave of large cuts in bank interest rates on deposits, loans starting Sunday
Banks operating in the local market started on Sunday a wave of major cuts in their interest rates and some loans, in response to the decision of Central Bank of Egypt (CBE) to reduce its basic interest rate by 1%, a move that is the first of its kind since 3 November 2016. This came …
CBE activates electronic link between Egyptian banks, COMESA countries
The Central Bank of Egypt (CBE) held a workshop attended by 60 representatives of the Export Development Authority (EDA), members of export councils, chambers of commerce, business associations and many companies working with Common Market for Eastern and Southern Africa (COMESA) countries to familiarise them with the electronic link system between Egyptian banks and African …
CBE asks banks to monitor some customer accounts
The Central Bank of Egypt (CBE) requested that banks operating in the local market monitor the accounts to which insurance dues and pensions are transferred to. In a letter to the banks, Gamal Negm, deputy governor of the CBE, said that the CBE has received information confirming the existence of a number of bank accounts …
Egypt continues to reap the benefits of rebalancing, reform programme: HSBC economists
Country set out on the process started more thanover a year ago.
CBE warns against dealing in Bitcoin
Cryptocurrencies lack guarantee and official government support as opposed to official currencies: CBE
FX reserves end 2017 at record high of $37.02bn
Forex reserves increased by $333m, despite payment of $3.2bn to Afreximbank, says CBE
CBE reaches terms for $3.1bn financing from international banks
CBE repaid total sum of $2bn on November 9, honouring Repurchase Transaction with consortium of international banks
Linking Egyptian banks to COMESA supports economic relations, facilitates funds transfer: CBE Deputy Governor
Starting series of workshops to raise awareness of all state sectors of the new system and its importance
CBE increases funds allocated for mortgage initiative to EGP 20bn
The families of army and police martyrs and the injured are exempted from applying maximum income
CBE launches women’s programme to lead future in cooperation with NCW Egypt
We aim to make an Egyptian programme 100% depending on the abilities and skills of the women technocrats: Morsi
CBE raises banks’ reserve requirement
The Central Bank of Egypt (CBE) decided to raise the reserve requirement ratio of banks from 10% to 14%. The bank announced on Tuesday that this resolution will be applied starting 10 October. The CBE had maintained the reserve requirement ratio at 14% since 2001 until 2012, which was reduced gradually after the 25 January …
CBE announces new BoD of state-owned banks beginning of next week
Okasha for NBE, El-Etreby for BM, Fayed for Banque du Caire, Kamal for Egyptian Arab Land Bank
Can the banking sector achieve financial inclusion alone?
The CBE holds the largest international conference on financial inclusion from 13 to 15 September, with the participation of more than 94 countries and 119 international institutions
CBE covered dollar needs worth $49bn since flotation
Dollar liquidity is directed to foreign trade financing and foreign companies’ reparation of funds
CBE caps pilgrims cash to $10,000
Foreign exchange reserves rose at the end of July to $36bn, thanks to the governmental economic reforms initiated in November
CBE has no intention of allowing cryptocurrency in Egypt: official
Bitcoin plans to launch in Egypt by late August, awaits needed legislation to be legally traded