CAIRO: Baraka Bank in Egypt will launch an Islamic Credit Card product for the first time in Egypt in the second quarter of the next year, ECO of the Barak Bank Ashraf al-Ghamarawi said.
The bank will launch all kinds of the credit cards (...)
CAIRO: The Egyptian Gold reserve in the foreign exchange reached U.S. $ 2.743 billion from the total of the international foreign exchange, which costs U.S. $22.1 billion at the end of October of 2011, according to a report issued by the Central (...)
CAIRO: The gross rate of raw iron production increased 11.6 percent in August 2011 compared with July, according to a report by the Central Bank of Egypt.
The gross sales of raw iron decreased by 17.2 percent while prices increased by 4.1 (...)
CAIRO: Foreign exchange reserves in Egypt declined by U.S. $2 billion (11.9 billion EGP) in October to $22.07 billion (131.1 billion EGP) from U.S. $24 billion (143 billion EGP) in September, the Egyptian Central Bank said Thursday.
Since the (...)
CAIRO: On behalf of the Minister of Finance, The Egyptian Central Bank will sell 4.5 billion EGP (U.S. $755 million) in Treasury Bills Sunday.
The Central bank is selling 1 billion EGP (U.S. $167.8 million) in 91-day treasuries, and 3.5 billion (...)
CAIRO: Egypt's ruling military council passed a law decree No. 125/2011 on amending certain provisions of Egypt's Central Bank and the banking sector No. 88/2003. The amendments were made in the frame of the proposal between the Central Bank and (...)
CAIRO: Remittances sent to Egypt by Egyptians abroad reached unprecedented amounts during the 2010/2011 fiscal year, according to a report issued by the Central Bank of Egypt.
The report said a total of U.S. $12.6 billion was sent back to Egypt (...)
CAIRO: Assets rose to 16 billion EGP (U.S. $2.7 billion) for the Suez Canal Bank in December 2010 comparing to how they were at 15.5 billion (U.S. $2.6 billion) EGP in 2009.
The bank statement shows that values of loans and development facilities (...)