The Central Bank of Egypt's foreign reserves fell US$ 84 million to reach US$ 13.424 billion at the end of last March, compared to US$ 13.508 billion at the end of last February.
CBE announced from days that it used US$ 1.3 billion for imports (...)
Despite the low value of finance offered to the real estate sector in the last two years by local banks in Egypt and the claims of real estate developers that banks are retreating from financing the sector, heads of banks and credit sectors affirm (...)
Before bringing into effect the sukuk law, the Egyptian policy makers shall consider a number of issues such as how to calculate the rate on sukuk, the guarantee offered to investors that can be hypothecated and the availability of the market-maker (...)
Emad El-Mansoury, head of credit sector at the United Bank, demands the amendment of the sukuk draft law to ban foreign investors from owning the country's sovereign assets and projects as some media said the country will hypothecate the sovereign (...)
Mohamed El-Beltagy, head of the Egyptian Islamic Finance Association, stated that many international banks await the issuance of the sukuk law in Egypt to inject investments to the country. These banks offered bids totaling billions of dollars to (...)
The Principal Bank for Development and Agricultural Credit will meet with a Bangladeshi delegation this week to discuss possible methods for mutual cooperation between both countries.
The bank seeks exchanging experiences with Bangladesh as the bank (...)
Faisal Islamic Bank of Egypt has received an approval from the Sharia Supervisory Board to conduct transactions of Bai Salam (forward sale), Istisna'a (product manufacturing contract) and Ijarah Al-Khadamat.
Sources said the new services will cater (...)
The Export Development Bank of Egypt (EDBE) has submitted a request to the Central Bank of Egypt (CBE) to get a Sharia-compliant banking license.
Sources said the bank submitted such request last September in order to tap into the increasing demand (...)