Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
CBE offers treasury bills worth $700m
New tender to be issued for payment of old bills offered in June 2015 worth $728.5m
CBE reprints EGP 1 banknotes to face small change shortage
The new EGP 1 banknotes will be signed by Governor of the CBE Tarek Amer for the first time since he took office in November 2015.
CBE rejects parliamentary Industry Committee’s request to allocate 25% of monthly surplus
Minister of Investment pledged to present the ministry’s work programme to the parliament as a quarterly report
CBE sets new regulations for marketing banking products at gatherings, conferences
The CBE’s approval is required for delegates to market their products, says deputy governor
CBE to present 3-month report of SME financing initiative to parliament
The financing initiative does not include micro-projects and Negm did not give expected information, says MP Abu El-Saad
CBE provides banks with $118.7m in weekly auction
The CBE sold US dollars at a fixed price of EGP 9.78. Banks have been directed to sell the US currency to their customers at a price of EGP 8.88
Egypt’s foreign exchange reserves gain $450m in April: CBE
It explained in a statement on its website that the reserves increased to $17.011bn in April, compared to approximately $16.561bn in March
CBE grants banks $118.7m, returns to quota in Tuesday’s auction
Banks were granted this amount at a price of EGP8.78 to the dollar. Banks will sell to clients at a price of EGP8.88 to the dollar
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
CBE revises mechanism of US dollar allocation
The CBE allocated $120m to banks on Tuesday to finance the import of food commodities at a price of EGP 8.78
CBE grants banks $104.5m to cover multinational companies’ demands to import medicine, food
Foreign exchange reserves register sixth consecutive monthly increase in March
CBE has no right to reduce CEOs’ tenures under banking law: legal adviser
CBE Governor Tarek Amer surprised the banking sector by issuing a decree on Thursday to limit the tenure of executive officials in banks to nine years, whether consecutive or cumulative
Programme to transfer profits of foreign companies operating in Egypt abroad promotes confidence in economy
CBE coordinates with international institutions to export share of production, experts demand raising competitiveness of Egyptian economy, currency reform
CBE, international institutions begin assessing AAIB, Banque du Caire in preparation for IPO
Timing, price, and promotion are important factors for a successful launch on the EGX, says financial analyst
Are CBE’s initiatives enough to develop SMEs?
Daily News Egypt speaks to experts on how to support and develop this sector
CBE considers launching initiative to support micro-enterprises
Intensive meetings held with ministries, authorities responsible for financing micro-enterprises to finalise initiative
Bankers expect interest rates on savings instruments in pounds to rise
The Monetary Policy Committee of the CBE decided to raise deposit and lending rates at the Egyptian central bank by 1.5%, brining the rate to 10.75% for deposits and 11.75% for lending
CBE removes caps on foreign currency deposits, withdrawals for individuals
The central bank has issued new regulations to fund acquisitions
CBE sells banks $500m to insure strategic imports of food commodities and medicine
The CBE conducted the sale at an exchange rate of EGP 7.73 per US dollar
CBE decides to defer tourism sector debts to banks for 3 years
CBE will create unit to contribute to restructure the debts of tourism sector
CBE sets new change on import controls
It will exclude all goods imported by air freight, software programmes, applications, computers, and their accessories
CBE announces EGP 5bn loan programme for industry, manufacturing
The loans will be allocated for the purchase of machines and equipment to expand production capacity, and will have a decreasing interest rate initially set at 7%
CBE to consider floating pound when foreign reserves hit $30bn
Actual value of imports amounts to approximately $90bn, in addition to smuggled goods worth approximately $9.6bn, says Amer
CBE bans foreign currency transactions at local points of sale
According to the CBE, this decision came in light of the discount made on transactions conducted at local POS in foreign currency at some commercial centres, through credit cards issued in local currency from local banks
Ministries of investment, finance meet with CBE to discuss activation of secondary bond market
Investment Ministry and EFSA form joint committee to reduce fees for listing companies’ in EGX, says Salman
$90m increase in value of gold listed in forex reserves in January: CBE
The central bank awaits the Chinese loan and the first portion of the World Bank loan to reinforce reserves
5% expected growth in computer sales after exemption from import regulations
This decision will help companies boost their sales, particularly after they faced a decline last year, due to the lack of dollar availability.
CBE provides $400m to import fuel in Q1 of 2016
EGPC resorts to petroleum contracts with payment facilities to resolve dollar crisis, says official
CBE restructures investing money in banks
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
CBE controls bank operations by applying sticker obligations
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income