Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
CBE launches programme to fund 350,000 SMEs for EGP 200bn in 4 years
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
CBE approves IDBE’s listing as accredited consulting firm
The list of accredited consulting firms at CBE includes 81 institutions, among which there are only two banks; the Housing and Development Bank (HDB) and IDBE.
Egypt received first $500m portion of loan from AfDB: Amer
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves
Coordinating Council to discuss raising foreign deposit limit for companies
During its extraordinary meeting, council will review programme to support economy that was agreed upon between government and CBE on 17 December
CBE contemplates range of scenarios to revive faltering factories and promote production
The Coordinating Council will discuss the CBE’s alternatives on 10 January, and decide on raising the maximum level of depositing in foreign currency
Balance of Payments registers deficit of $3.7bn in first quarter of FY 2015/2016: CBE
The Central Bank of Egypt (CBE) announced Wednesday that the Balance of Payments (BOP) registered a deficit of approximately $3.7bn in the first quarter (Q1) of this fiscal year (FY) 2015/2016 compared to a surplus of approximately $410m during the same period in FY 2014/2015. BOP addresses Egypt’s economic transactions with the international market. CBE …
CBE sets new regulations for imports
We work to protect the domestic industry and ensure its competitiveness against foreign products, says CBE
CBE’s new board officially takes office next Sunday
Regulating exchange market is at the top of the new board’s priorities, says Ismail Hassan
CBE regulates exporting rice
New decision by the bank lists rice among the commodities that should be exported through Egyptian banks
CBE to provide $4bn in hard currency for import contracts: FEI head
NBE and Banque Misr provided $800m in the past few days to release goods in ports, says El-Sewedy
CBE to convert $4bn worth of dues on importers to local currency
Tarek Amer holds frequent meetings with public bank heads to discuss developments in the foreign exchange market and to solve the problems they face
Dollar officially stable at EGP 8.03, experts expect it to stay fixed until end of 2015
Parallel market confusion amid the decline of the dollar in anticipation of new CBE governor’s decisions
Pharos predicts faster pound depreciation following Amer’s appointment
A study by Pharos cited the newly-appointed governor’s past experiences as a basis to predict further devaluation
Imports indicative list will increase monopoly, raise prices: Sheha
Annual Egyptian imports are less than $80bn, of which luxury imports are $500m
Non-performing loans fell to 7.6% by end of June: CBE
CBE issued an important Financial Soundness Indicators report; loans to deposits ratio boosted to 41.4%
Dollar price remains EGP 7.93 after 2 consecutive depreciations
The pound is expected to officially jump to EGP 8.30 before May 2016, says Dcode
Dollar stabilises after increasing by 20 piasters in 2 days
Market awaits CBE’s next step; analysts believe July’s stability will be repeated
Bank deposits increase by over EGP 39bn in July, loans by EGP 8.2bn: CBE
According to CBE, the total deposits growth rate of banks in July was about 18.5%. The growth rate of deposits in EGP amounted to about 19.5%, while the growth rate of foreign currency was 14.1%.
Dollar price to break EGP 8 barrier in banks for first time
Price reaches EGP 8.40 in black market, which is in complete paralysis in anticipation of the central bank’s next steps
Pound depreciation has limited impact on budget deficit: Economists
Government forecasts on the deficit will not be achieved and will jump to 10.2%, and debt allocations will increase further, says Farid
Banknote issuance increases to 13.09% of GDP in June: CBE
The rate of banknote issuance reached about 15.06% of GDP in June 2014, marking its highest level in the last four years, while it registered its lowest level in November 2014 when it recorded 12.17% of GDP.
Vital incentives to encourage foreigners to invest in governmental debt instruments: El-Kosayer
According to CBE, foreign investors were the second largest investors in Egyptian treasury bills, following public banks, before January Revolution.
Egypt’s largest trading partners are European, Arab countries: CBE
EU countries acquired 33.5% of total Egyptian exports by end of Q3 of FY 2014/2015
$3.7bn surplus in balance of payments for FY 2014/2015: CBE
FDI in Egypt increased to $6.4bn the past FY
Numerous public bank officials resign to protest maximum wage
New maximum wage sets wages at 50% less than original wages, resigned NBE official says
Egypt ranks 114th on corruption scale
The county’s corruption levels shows no improvement from its 2012 score
CBE reports EGP 11.3billion balance of payment deficit
The Central Bank of Egypt (CBE) announced Monday that Egypt’s balance of payment totalled USD eight billion during the 2011/2012 fiscal year, compared to a surplus of $571.2 million in the previous fiscal year. The decline was attributed to reduced tourism profits and the current political atmosphere in Egypt and the region. CBE reported that …