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CBE fixes its basic return rates

“The MPC decision was highly expected in light of CBE’s keenness to activate investment, move the economy and not to increase the burdens of local debt,” said Haitham Abdel Fattah

Hossam Mounir

Only 18% of residents in the Arab region deal with financial institutions: Barakat

Only 18% of the residents in the Arab region have accounts in financial institutions, compared to 43% in developing countries generally, and 24% in the sub-Sahara African countries, said Mohamed Barakat, Chairman of the Union of Arab Banks (UAB). Barakat said international attention to financial inclusion stared on 29 December 2003, when the then-Secretary General …

Hossam Mounir

CBE studies creating guideline directory for micro-finance

The Central Bank of Egypt (CBE) is currently studying creating a guideline directory to support banks wishing to get into micro-finance activities, said Tarek El Kholy, Deputy Governor for Risk Management and Banking Supervision at CBE. El Kholy pointed at the CBE’s attention to micro-finance activity because of its great role in applying the concept …

Hossam Mounir

Number of banking consumers in Egypt does not exceed 11 million: El-Etreby

The number of banking consumers in Egypt ranges between 10 million to 11 million persons, against about 54 million citizens who have the right to vote, said Mohamed El-Etreby, Chairman of Banque Misr and member of the Federation Of Egyptian Banks (FEB). El-Etreby added that financial inclusion is no longer optional, but rather a necessity …

Hossam Mounir