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CBE expected to hold interest rates during next MPC meeting
Market anticipates CBE announcement, on Monday, regarding inflation in July 2020
CBE allows banks to acquire uncapped stakes in payment companies
Banks to provide full data on the company to which they are contributing more than 5% of issued capital
Egypt’s net international reserves grow $113m in July to $38.315bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
Egypt’s local bank deposits increase to EGP 3.268trn in June: CBE
The CBE added that demand deposits recorded about EGP 482bn, of which about EGP 192.22bn was by the household sector, and about EGP 31.3bn for the public sector. The private sector accounted for about EGP 258.5bn of the whole figure.
Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021
Egypt’s account deficit declines 39.2% in Q1 of 2020
The improvement comes despite the uncertainty in the global economy which has resulted from the spread of the novel coronavirus (COVID-19) pandemic.
New facilities to remove levy on taxpayers’ bank accounts: CBE
This is applicable on natural or legal persons regardless of their activity. Moreover, the door for appeals will be opened to taxpayers again.
Private sector holds 61.7% of total bank loans in April: CBE
Total deposits see 14.33% growth in April, compared to 13.9% in March; foreign currencies share fell to 17.01%
Financial position of banks in Egypt up to EGP 6.421trn in April: CBE
Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
CBE allowed to practice central depository, registration of government securities
New law opens door for privatisation of central depository and registration process
Egypt’s net international reserves up $2.2bn in June to $38.201bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
CBE provides EGP 69bn in facilities to support industry, agriculture, contracting sectors
5 industries, including F&B and plastics, acquired 60%, or EGP 41bn, of total used balances granted under initiative, says source
Egypt’s MSME financing records EGP 181bn since January 2016: CBE
MSME initiative was launched by the CBE in January 2016. It has achieved a record volume in facilities and loans granted by the end of March 2020.
CBE amends tourism worker support initiative
The article includes the payment of salaries for tourism sector workers for a period of three months starting in May 2020. The client must provide proof that salaries due in May have not already been paid.
Aman, NBE cooperate to deploy 25,000 POS as part of CBE initiative
The cooperation comes as part of the Central Bank of Egypt (CBE) initiative to stimulate e-payments in Egypt, rather than cash exchanges. This is in line with the Egyptian state’s economic vision to achieve sustainable development and transition to a cashless society.
CBE provides EGP 7bn guarantee for corporate financing
Initiative aims to benefit clients of industrial, agricultural, and contracting private sectors whose annual work volume/revenues amount to EGP 200m or more
CBE confirms financial soundness of banks operating in Egypt
Banking sector’s financial position reaches EGP 6.165trn, capital adequacy ratio increases to 18.6% in March 2020
CBE offers EGP 15bn worth T-Bills on Thursday
The first tranche of the T-Bills will be offered through 182-day notes valued at EGP 7.5bn, while the second tranche stands at EGP 7.5bn and will be offered through 364-day notes, the CBE said on its official website.
CBE reviews interest rate amid expectations to remain unchanged
No strong prospects for inflationary pressures off of rising electricity prices or repercussions from exchange rate, says banking expert
CBE extends EGP 100bn initiative to new medium-sized enterprises
The initiative was set up to provide loans at a decreasing interest rate of 8% to private sector companies in Egypt’s industrial, agricultural and contracting sectors.
Financial position of banks in Egypt up EGP 648.9bn in 1Q-3Q FY2020: CBE
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri
Emerging markets experience sharpest capital outflow in March since 2008: CBE
Monetary and fiscal stimulus policies, structural reforms cushion negative consequences of coronavirus on most vulnerable, supports economic recovery once pandemic contained
Annual core inflation slows to 1.5% in May: CBE
Last month’s inflation reading below expectations, so interest rates may remain fixed until end of 2020, Pharos expects
CBE receives 26 offers to invest $720m in T-Bills auction
The CBE accepted 20 offers worth a total of $509.3m, with interest ranging between 3.42% as the lowest price, 3.45% as the highest price, and 3.446% as an average. This compared to 3.47% as the lowest price and 3.5% as the highest price, and 3.495% as an average in the last similar bid in May.
CBE offers $500m worth T-Bills on Monday
Proceeds to cover a previous offer worth $715m issued on 11 June 2019
US dollar continues appreciation against EGP: CBE
The appreciation in the US dollar also pushed the prices of Arab and foreign currencies up against the pound, as the price of the Euro reached EGP 18.1449 to buy and EGP 18.2605 to sell. The price of the Pound Sterling reached EGP 20.2588 to buy and EGP 20.3794 to sell.
Local currency deposits in banks rise by EGP 41bn in April
CBE figures also show decrease in surplus of net foreign assets for second consecutive month
US dollar appreciates slightly to EGP 15.92 at CBE
The Swiss franc reached EGP 16.5466 for buying and EGP 16.6522 for selling. The Japanese yen recorded EGP 14.7044 for buying and EGP 14.8035 for selling.
CBE to offer EGP 24.5bn worth T-Bills, bonds on Sunday
New offerings part of government’s plan to issue EGP 610bn T-Bills, bonds until end June
CBE offers EGP 20bn in T-Bills as market awaits Finance Ministry move
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.