The Asset-liability Committees (ALCOs) – responsible for overseeing the management of a bank's assets and liabilities – are holding intensive meetings this week to discuss the fate of interest rates on banks' savings vessels and loan products, after (...)
In a meeting on Thursday, the Monetary Policy Committee (MPC) decided to raise the Central Bank of Egypt's (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation by 200 basis points to 11.25%, 12.25%, and 11.75%, (...)
Mohamed Al-Zamlout, Governor of the New Valley, and Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE), have inaugurated the bank's recently developed branch in the town of Kharga.
A delegation from the bank paid a visit to the New (...)
Mohamed Al-Zamlout, Governor of the New Valley, and Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE), have inaugurated the bank's recently developed branch in the town of Kharga.
A delegation from the bank paid a visit to the New (...)
Governor of the Central Bank of Egypt (CBE) Tarek Amer said that the bank will not hesitate to take the measures it deems appropriate to curb inflation.
During his speech at the Arab Banking Conference that took place on Wednesday in Cairo, Amer (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will hold its third periodic meeting this year on Thursday to discuss the fate of the central interest rates, which are the main indicator of the direction of interest rates on (...)
Annual headline urban inflation increased to 13.1% in April from March's 10.5%, marking the highest rate since May 2019.
The increase in urban inflation is attributed to strong monthly dynamics in both food and non-food items, reflecting the (...)
The Central Bank of Egypt (CBE) announced that is joining the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) — one of the most important bodies specialised in the field of green economy in the world.
This new step (...)
Minister of Finance Mohamed Maait said in a statement on Sunday that the process of developing and automating 90% of the country's financial directorates will be completed before the end of this June.
This plan contributes to the governance of the (...)
The Central Bank of Egypt (CBE), in cooperation with the Ministry of Finance, has managed to replace 4.1m out of 4.3m employees' payroll slips with Meeza cards so far, with the rest expected to be issued by the end of 2022.
This comes within the (...)
Hassan Ghanem — Chairperson and Managing Director of the Housing and Development Bank (HDB) — said that the bank is adopting an expansion strategy in the field of digital transformation that comes at the top of its list of priorities.
He explained (...)
Alaa Farouk — Chairperson of the Board of Directors of the Agricultural Bank of Egypt (ABE) — stressed the bank's keenness to contribute to supporting the state's efforts in developing the governorates of Upper Egypt at all levels.
Moreover, the (...)
The National Bank of Egypt (NBE) — as the first major arranger and financing agent — led a banking alliance to provide long-term syndicated financing totaling EGP 12.5bn for the Canal Sugar Company.
The African Export-Import Bank (Afrixim), QNB NBE (...)
The National Bank of Egypt (NBE) — as the first major arranger and financing agent — led a banking alliance to provide long-term syndicated financing totaling EGP 12.5bn for the Canal Sugar Company.
The African Export-Import Bank (Afrixim), QNB NBE (...)
The Central Bank of Egypt (CBE) revealed that the USD's price fell by more than 11 piasters by the end of Wednesday's trading, reaching EGP 18.3289 for purchase and EGP 18.4183 for sale, compared to Tuesday's EGP 18.4422 and EGP 18.5283.
At the (...)
The Central Bank of Egypt (CBE) revealed that the USD's price fell by more than 11 piasters by the end of Wednesday's trading, reaching EGP 18.3289 for purchase and EGP 18.4183 for sale, compared to Tuesday's EGP 18.4422 and EGP 18.5283.
At the (...)
Nevine Gamea — Minister of Trade and Industry and CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) — said that the state is providing the appropriate environment for SMEs to expand as a top priority, especially industrial (...)
Nevine Gamea — Minister of Trade and Industry and CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) — said that the state is providing the appropriate environment for SMEs to expand as a top priority, especially industrial (...)
Egypt's net international reserves increased to $37.123bn in April, compared to $37.082bn in March, the Central Bank of Egypt (CBE) announced on Sunday.
Egypt's international reserves consist of foreign exchange (FX), gold, special drawing rights (...)
The average price of the US dollar in banks at the close of trading, on Sunday, the first working day for banks after the Eid Al-Fitr holiday, reached EGP 18.4408 for buying and EGP 18.5283 for selling, unchanged from before the holiday.
The (...)
The Ministry of Finance intends to offer 35 bids for treasury bills (T-bills) and bonds worth EGP 244bn during May, as part of a government plan that aims to borrow EGP 634bn from the local market during the last quarter (4Q) of fiscal year (FY) (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will hold its third periodic meeting on 19 May this year to discuss the fate of the basic interest rates, which are the main indicators of the trend of the interest rates in the (...)
Minister of Trade and Industry Nevine Gamea — CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) — announced that MSMEDA financed more than 60,000 small and micro projects during the first quarter (1Q) of 2022 with about EGP (...)
The total non-governmental bank deposits in local currency amounted to EGP 4.754trn in March 2022, compared to EGP 4.561trn in February — an increase of EGP 193bn.
According to recent data from the Central Bank of Egypt (CBE), the volume of demand (...)
Khazna, a fintech company, has announced that it has received the Central Bank of Egypt's (CBE) approval to launch its prepaid card in cooperation with Abu Dhabi Islamic Bank – Egypt (ADIB).
Khazna Card will bear the logo of the National Payments (...)
