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Banks are meeting after the CBE lifted its basic interest rate by 50 bps Thursday
Measures include postponing loan repayments for tourism employees and investing in facilities
Participants aim to become acquainted with the basics of international practice in the financial support of SMEs.
The 20-year usufruct system hinders idea of establishing New Car City, says businessman
Industry figures say more personal borrowing for cars will boost economy
The CBE evaluates the banks’ cooperation in providing the foreign currency through three factors
The regulations were a new shock to banks that did not obtain dollars from the CBE
CBE demanded that local banks prioritise directing their foreign exchange liquidity to cover the importation of commodities
Amer’s latest regulations for dollar availability act as a warning to uncommitted banks, experts say
Bilateral talks between the Ministries of Electricity and Finance are taking place in order to set a mechanism and vision to obtain foreign exchange to enable investors in the renewable energy sector to pay the instalments and interests of their loans.
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
Six other banks await a judicial ruling for exemption
Five UAE banks currently operate in the Egyptian market; Emirates NBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank, and Mashreq.
Bank opened six new branches and banking units, plans to expand in about eight governorates
EGP 29.5bn increase in deposits, EGP 10.7bn increase in bank loans during August: CBE
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
Creation of Suez Canal is a catalyst to build a new tourism hub, and Ain Sokhna particularly in the immediate future, says Head of Hotels (MENA) at Colliers International
The bank’s loans-to-deposits ratio increased to 58%, compared to the 41% average in the banking system
Banks are keen to loan to SMEs; now however is not the right time due to the high unpredictability in the economics in Egypt, says Levari Law Founder
The CBE raised the Deposit Operation mechanism on Monday, in order to absorb excess liquidity from banks operating in the Egyptian market.
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December
81% decline in banks’ value of savings during FY 2013/2014
The CBE could help banks do both if provided with sufficient liquidity, says former governor
Plans to double issued capital to EGP 100m by H1 of 2016
Challenges include adjusting foreign exchange market, rebuilding reserves, and controlling inflation, say analysts
There is much space for future PPPs in infrastructure, port expansions, and industrial and logistics zones, says Shousha
Banks should offer new products and incentives suitable for low-income citizens, reconsider interest rate on loans and ease loans procedures, says El-Khawaga
Ratings agency Moody’s upgrades banking sector outlook from negative to stable
First general assembly will be held, board of directors elected Thursday