Latest in Highlight
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Egypt’s FX reserves increase by $319m in November
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
Egypt’s government, CBE prepare to launch manufacturing support initiative
The initiative is expected to be announced next Wednesday
Cooperation between the CBE, FRA, NTRA, AMLA to develop legislative framework for financial technology
Ayman Hussein, Sub Governor of CBE for Payment Systems and Information Technology, said “Financial technology and its applications contribute to financial inclusion,” adding that there is a fruitful cooperation between the CBE and the Ministry of Communications, where technology has become an important role in the banking sector.
Five banks to begin collecting mortgage finance instalments electronically amid CBE initiative
277,000 customers in 15 banks and eight mortgage finance companies are to benefit from the service when fully implemented
Why CBE Governor Tarek Amer was selected to serve another 4-year term?
CBE under Amer succeeded in managing the files of monetary policy and exchange market, which reflected positively on the performance of the national economy as a whole, say bankers
CBE Governor Tarek Amer to remain in office until 2023
Amer, whose term ends this week, was appointed in 2015, succeeding former governor Hisham Ramez.
CBE selects EFG Hermes-Evercore alliance as advisor for United Bank’s equity stake offering
According to the CBE’s Sunday statement, they selected the duo out of five investment banks that were bidding for the role.
43 investors offer to invest $1.721bn in Egyptian T-Bills auction
CBE accepts $1.56bn worth offers from 33 investors with interests ranging between 3.55-3.6%
Winners and losers of CBE’s interest rate cut
Government, investors, and EGX are the most beneficiaries from the decision, while bank depositors are the most harmed
CBE to offer $1.56bn worth T-Bills in auction Monday
The proceeds of this issuance will be directed to repay the earlier T-Bills issuance launched by the CBE on 19 November 2018, valued at $1.703bn.
CBE to cut rates by 50-100bps at upcoming MPC meeting: Beltone
Beltone foresees inflation averaging 4.8% in 4Q19
HC expects CBE to cut rates by 50 bps in its next meeting
Headline inflation continued to decelerate for the fourth consecutive month from its high level back in May, says economist.
Egypt’s net foreign reserves rise by $128m to $45.247bn in October
It’s the highest foreign exchange reserves in Egypt’s history, covering more than eight months of commodity imports.
Issuance of executive regulation for e-payments law within weeks: CBE
Banks issued 3.5m Meeza cards until end-October, says CBE Deputy Governor
Remittances from Egyptian expats rose to $4.4bn in July and August: CBE
Remittances of Egyptians working abroad are one of Egypt’s most important foreign exchange resources.
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s foreign trade increases to $95bn in FY 2018/19: CBE
Egypt’s imports scored $66.529bn, while exports reached $28.495bn between July 2018 and June 2019
EGP to average EGP 17.11 against US dollar in FY 2020/21: CI Capital
CBE to keep rates on hold in November, December
Egypt’s external debt jumps to $108.bn end-June: CBE
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Sigma Capital sees CBE cutting reserve requirement from 14% to 10% again
This step after low inflation leads to an increase in money supply by about EGP 70bn
20 banks finance 254,200 beneficiaries by EGP 24.6bn in CBE’s mortgage finance initiative
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
Egypt’s Long-term external debt at 87%: Amer
13% of short-term debts are deposits from Arab countries that are renewed every four years
CBE issues new regulations for microfinance in banks
Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks
Egypt’s new banking draft law: opportunities and challenges
New law reinforces the independence of the CBE and banks’ boards of directors, prepares Egyptian market for a new era in financial technology
Egypt’s net foreign reserves break $45bn, the highest level ever
We need to study the reasons for the high BOP deficit, especially in exports and FDI, says Abdel Aal
Egypt’s tourism revenues jumped by 28.2% during last FY: CBE
Experts argue security stability is key behind hike in tourism, Sultan forecast sector to achieve $15bn by FY-end
Credit facilities by banks fall EGP 35.2bn in July to EGP 1.8trn: CBE
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
Egypt’s current account records $8.2bn deficit in FY 2018/19: CBE
BOP records 0.1bn deficits, oil trade balance records $8.1m surplus, FDI net inflows decrease by $1.8bn to $5.9bn
Egypt has no problem in paying off its debts and foreign obligations: CBE
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
Meeza card’s transactions reach EGP 2.2bn until September: CBE
This came during the event organised on Monday by the British Egyptian Business Association (BEBA), entitled “Digital assets and artificial intelligence”. The Egyptian now use Meeza cards to receive pensions, salaries, and even subsidies later on, she added.