The total financial position of banks working in the Egyptian market recorded about EGP 7.347trn in February 2021, compared to EGP 7.158trn in January 2021.
A report by the Central Bank of Egypt (CBE), on Monday, revealed that the capital at banks (...)
Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the annual rate of urban inflation fell to 4.1% in April 2021, compared to 4.5% in the previous month.
On a monthly basis, however, prices in April rose 0.9%, (...)
The National Bank of Egypt (NBE) has signed a cooperation protocol with the Egyptian Countryside Development Company (ECDC) to finance investors benefiting from the national project to reclaim, cultivate, and develop 1.5 million feddan.
The land is (...)
Global economic activity continues to show varying paces of recovery across countries and economic sectors, as the impact of the COVID-19 pandemic continues to weigh on the outlook, according to the Central Bank of Egypt (CBE).
Prospects for global (...)
The Central Bank of Egypt (CBE) has revealed that the value of gold listed in the country's net international reserves increased by about $194m during April 2021.
As a result, it reached about $4.128bn in April, compared to $3.934bn in March (...)
Misr Life Insurance, a subsidiary of Misr Insurance Holding, has partnered with Misr Capital, the investment arm of Banque Misr, have announced the launch of the investment fund Misr Life Insurance for Liquidity in Egyptian Pound.
The fund is set to (...)
The Central Bank of Egypt (CBE) has revealed that local currency deposits with banks working in the Egyptian market increased by EGP 104.191bn during March 2021.
This meant that local currency deposits reached about EGP 3.863trn, compared to the EGP (...)
Egypt's Ministry of Finance has revealed its intention to offer Treasury bills (T-bills) and T-bonds worth a total of EGP 198bn during May.
The offering comes as part of a larger plan that includes local debt instruments worth EGP 642.5bn, which (...)
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has allocated EGP 75m to convert 9,500 vehicles to natural gas.
The finance was used to convert the vehicles during the first quarter (Q1) of 2021. She also confirmed the continued (...)
The Monetary Policy Committee (MPC) at the Central Bank of Egypt (CBE) will hold its third periodic meeting this year, on Wednesday, to discuss the fate of the country's basic interest rates.
The meeting was scheduled to take place on Thursday, but (...)
Last week, the Central Bank of Egypt (CBE) approved the third edition of rules for payment services using mobile wallets.
This included its approval of the rules for lending and providing digital savings services through the mobile wallet.
The CBE (...)
The Board of Directors at the Central Bank of Egypt (CBE) has approved the third edition of the rules for mobile phone wallet payment services.
The CBE has also given its approval to the rules for providing loan and digital savings services through (...)
Egypt's real GDP growth picked up slightly to 0.7% in the third quarter (Q3) of 2020, compared to a contraction of 1.7% in the previous quarter.
As a result, it averaged 1.3% during the first three quarters of 2020, coming in against the 5.6% (...)
saib Bank is targeting a growth of more than 50% in its retail banking portfolio during 2021, according to Amr Nossair, Head of Retail Banking and Delivery Channels at the bank.
Speaking in an exclusive interview with Daily News Egypt, Nossair also (...)
The Central Bank of Egypt (CBE) said that the total financial position of banks operating in the Egyptian market rose to EGP 7.158trn in January 2021.
This compared to the EGP 7.022trn recorded in December 2020.
According to a report by the CBE, (...)
Egypt's overseas transactions during the second half (H2) of 2020 demonstrated the country's resilience and ability to weather the shock caused by the novel coronavirus (COVID-19) pandemic.
The balance of payments (BOP) recorded an overall surplus (...)
Egypt's external debt jumped to $129.2bn in 2020, compared to $112.6bn in 2019, an increase of 14.7%, according to the Central Bank of Egypt (CBE).
The country's external debt recorded $125.3bn in September 2020.
In its report on the external (...)
Changelabs, one of the top 10 accelerators in the Middle East, announced on Monday the launch of its leading "Scale Up To Green" accelerator targeting top Egyptian resource efficiency, green energy, and agritech companies.
The programme is being (...)
The National Bank of Egypt (NBE) and Banque Misr are leading a coalition of six banks to provide EGP 10bn in financing to the Suez Canal Economic Zone (SCZone).
The long-term joint financing contract was signed by: SCZone Chairperson Yehia Zaky; NBE (...)
The Central Bank of Egypt (CBE) has revealed that remittances from Egyptian expatriates increased by 10.6%, or about $1.7bn, during the period between July 2020 and January 2021.
The increase saw remittances increase to about $18.1bn, compared to (...)
A new small- and medium-sized enterprise (SME) law has come into effect in Egypt after its executive regulations were issued.
As part of the law's introduction, Nevine Gamea, Minister of Trade and Industry and Executive Director of the Micro, Small, (...)
In the past few days, there have been noticeable changes at a number of banks operating in the Egyptian market as they work on increasing their capital to comply with the country's new banking law.
Banking Law No 194 of 2020 stipulates that the (...)
The National Bank of Egypt's (NBE) microfinance and electronic payment arm, Al Ahly Tamkeen, has started to provide its services at certain branches in Upper Egypt.
Dalia Al-Baz, Vice-Chairperson NBE and Chairperson of Tamkeen, said the company aims (...)
Egypt's annual urban inflation recorded 4.5% in March 2021, unchanged from February, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The agency said, in a statement on Thursday, that the consumer price index (CPI) (...)
The Central Bank of Egypt (CBE), the National Telecom Regulatory Authority (NTRA), and the National Authority for Social Insurance have signed a cooperation protocol to provide new electronic channels for pension disbursement.
The move is the latest (...)
