Madbouly Egypt's development model at UN conference    Egypt's Foreign Minister urges diplomacy on Iran nuclear issue in IAEA call    Egypt, Iran FMs discuss Gaza truce, nuclear talks revival    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt's Q3 GDP growth hits three-year high of 4.77%    Peace is not imposed by bombing… nor achieved by normalisation peoples reject: Al-Sisi    Al-Sisi reaffirms Egypt's support for Libyan unity, withdrawal of foreign forces    Spinneys Opens A New Store in Hurghada    Egypt to launch new dialysis filter factory in July, covering 65% of domestic demand    Egypt reveals heritage e-training portal    Egypt leverages diplomacy to advance global health partnerships    Egypt to toughen truck safety rules following fatal Ring Road accident    Egypt condemns Pakistan convoy attack, voices solidarity    Egypt, Mauritania eye joint healthcare plans    Egypt's FM, UK security adviser discuss de-escalation    US Fed holds rates steady    EGX ends in green on June 16    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Articles of the author Hossam Mounir
Central Bank of Egypt says food major driver of December 2022's inflation of 21.3%
Egypt's Annual headline urban inflation increased to 21.3% in December 2022 from 18.7% in November 2022. The Central Bank of Egypt (CBE) said that December's 2022 inflation figure continued to be impacted by supply shocks caused by the elevated (...)

17 - 01 - 2023
US dollar continues appreciation against Egyptian currency, exceeding EGP 29
The official price of the US dollar at the Central Bank of Egypt (CBE) jumped on Wednesday by EGP 2, to reach EGP 29.63 for purchase and EGP 29.76 for sale, setting a new record in the local market. Since the start of its surge last Thursday, the (...)

11 - 01 - 2023
Dollar exchange at CBE increases by over EGP 0.50 on Monday
The official price of the US dollar at the Central Bank of Egypt (CBE) increased by more than EGP 0.50, recording EGP 27.5538 for buying and EGP 27.6256 for selling on Monday, compared to EGP 27.0112 for buying and EGP 27.1131 for selling last (...)

10 - 01 - 2023
Microfinance increases to EGP 64.6bn in June 2022: CBE
The Central Bank of Egypt (CBE) has announced that the size of microfinance offered by banks and financial institutions increased to EGP 64.6bn for 4.5 million beneficiaries in June 2022, compared to EGP 6.4bn in December 2016. In its recent (...)

05 - 01 - 2023
Government to borrow EGP 1.055trn from local market in 3Q 2022/23
The Egyptian government intends to borrow EGP 1.055trn from the local market during the third quarter (3Q) of fiscal year 2022/23, with the aim of financing the state budget deficit. According to the government's plan, the Ministry of Finance aims (...)

04 - 01 - 2023
US dollar exchange against EGP jumps 6.8%, government banks issue 25% saving certificates
The exchange price of the US dollar against the Egyptian pound jumped Wednesday by about 6.77% in banks operating locally, breaking the barrier of EGP 26 to record its highest level in the official market. The official price of the dollar at the (...)

04 - 01 - 2023
Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE
The Central Bank of Egypt (CBE) has revealed that the credit facilities granted to the largest 100 borrowers in the public and private business sectors amounted to about EGP 603bn in June 2022, with a growth rate of 18.8% compared to June 2021. In (...)

03 - 01 - 2023
Tamweely launches new app to enhance communication with customers
Tamweely for microfinance has launched a new electronic application on smartphones which allows instant communication between the company and its customers around the clock, as part of its strategic plan for complete digital transformation, and (...)

03 - 01 - 2023
Government to borrow EGP 1.055trn from local market in 3Q 2022/23
The Egyptian government intends to borrow EGP 1.055trn from the local market during the third quarter (3Q) of fiscal year 2022/23, with the aim of financing the state budget deficit. According to the government's plan, the Ministry of Finance aims (...)

03 - 01 - 2023
CBE receives $1.03bn worth of bids for T-bills denominated in US dollar
The Central Bank of Egypt (CBE) Tuesday received 27 offers worth $1.03bn to cover one-year treasury bills (T-bills) denominated in the US dollar at $850m, due on 2 January 2024. According to Central Bank, the bank accepted 21 of those offers with an (...)

03 - 01 - 2023
Bank liquidity in Egypt increases to EGP 7.318trn in November 2022: CBE
Domestic liquidity in the banking sector increased to EGP 7.318trn in November 2022, compared to EGP 5.822trn in December 2021, an increase of EGP 1.5trn. A recent report by the Central Bank of Egypt (CBE) revealed that the money supply recorded EGP (...)

02 - 01 - 2023
CBE studies using central bank digital currency
The Central Bank of Egypt (CBE) revealed that it is studying applying Central Bank Digital Currency (CBDC). CBE indicated that CBDCs are safe and stable, as an alternative to other types of cryptocurrencies and their risks regarding the digital (...)

02 - 01 - 2023
Central Bank of Egypt to issue $850m US dollar-denominated T-bills on Monday
The Central Bank of Egypt (CBE) will issue on Monday US dollar-denominated treasury bills (T-bills), worth $850m for a year, due on 2 January 2024. The CBE uses the proceeds of this T-bills bid to pay the value of a previous bid submitted by the (...)

01 - 01 - 2023
NBE arranges syndicated loan for $2.9bn oil refinery project in Upper Egypt
The National Bank of Egypt (NBE) announced on Wednesday that it has arranged the largest syndicated loan of its kind to Assiut National Oil Processing Company (ANOPC) to finance an oil refining project in Upper Egypt at an investment cost of (...)

28 - 12 - 2022
CBE spots illegal foreign exchange trading schemes
The Central Bank of Egypt (CBE) said on Monday that it has monitored illegal foreign exchange trading schemes that aim to destabilize the country's monetary and financial stability, stressing that it has taken required legal measures to stop those (...)

27 - 12 - 2022
Outstanding balance of local T-bills, bonds reaches EGP 4.3trn in November 2022: Finance Ministry
Egypt's Ministry of Finance revealed that the outstanding balance of local treasury bills (T-bills) and bonds amounted to about EGP 4.3trn in November 2022. According to the ministry, the outstanding balance of T-bills reached about EGP 1.732trn in (...)

27 - 12 - 2022
Finance Ministry accepts less T-bill purchasing offers to avoid raising interest
The Ministry of Finance said on Monday that it had to reduce the amount of accepted purchasing offers for the two treasury bill (T-bill) tenders that were launched on Sunday, in order to avoid increasing the interest rates after the Central Bank of (...)

27 - 12 - 2022
Egypt has third best banking system in Arab world in terms of assets, deposits, and loans: UAB
The Union of Arab Banks (UAB) said that the Egyptian banking sector has achieved tremendous success and impressive results over the past five years. In a statement on Tuesday, the UAB stated that the size of the banking sector in Egypt tripled (...)

27 - 12 - 2022
CBE extends two tourism support initiatives to March 2023
The Central Bank of Egypt (CBE) extended on Sunday its initiative to support companies operating in the tourism sector for additional three months, ending in March 2023. The initiative, which allows companies to obtain loans with a decreasing 8% (...)

26 - 12 - 2022
CBE offers one-year incentives to support e-payments
The Central Bank of Egypt (CBE) announced Sunday new incentives to support the country's digital transformation, including cashless transaction adoption, set to last from 1 January – 31 December 2023. Under these incentives, Egyptian pound-backed (...)

25 - 12 - 2022
Al Baraka Bank offers EGP 90m to Solidarity Microfinance to support microenterprises by women
Solidarity Microfinance, working in the field of financing micro-projects by women, signed a financing agreement worth EGP 90m with Al Baraka Bank Egypt, in order to support women who own micro-enterprises nationwide. According to the agreement, the (...)

25 - 12 - 2022
CBE sets new inflation target until 2026
The Central Bank of Egypt (CBE) has set a new, realistic target for inflation until the end of 2026, taking into consideration current market developments locally and globally. The CBE set Thursday night a new inflation target of 7% (±2%) until the (...)

24 - 12 - 2022
Banks to discuss fate of interest rate on savings, loan products on Sunday
The Assets and Liabilities Committees (ALICO) of banks will begin holding intensive meetings on Sunday to discuss the fate of interest rates on their savings vessels and loan products after the Central Bank of Egypt's (CBE) decision to raise its (...)

24 - 12 - 2022
CBE warns of misuse of bank cards, fraud to obtain foreign exchange without need for it
The Central Bank of Egypt (CBE) announced on Thursday that banks must notify customers by any means of communication that it is prohibited to misuse credit and direct debit cards, especially for customers who do not leave the country. The bank (...)

24 - 12 - 2022
CBE pushes for sustainable financing in banking sector
The Central Bank of Egypt (CBE) has revealed the efforts it has taken to boost sustainable financing in the banking sector. In an infographic the CBE issued Monday, the bank stated that these efforts included the issuance of guiding principles for (...)

20 - 12 - 2022
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