Latest in Highlight
Latest in
Egypt’s external debt rises to $123.49bn in June 2020: CBE
The country’s external debt in June 2020 also increased by 14.79% compared to June 2019 when it reached $108.7bn.
CIB awaits CBE audit report following chairperson’s resignation
Two audit firms to look into CBE report on CIB violations, should financial fraud allegations stick
Agricultural Bank of Egypt targets 30-million customer base over 5 years
Financing programme for needy families, rural women, and craftsmen to be launched soon
CBE provides full support to CIB to preserve its financial position, deposits
A CBE statement read, “The CBE approved the decision of the CIB’s Board of Directors to appoint Sherif Sami, a board member and former chairperson of the Financial Regulatory Authority, as a non-executive Chairperson, as of date.”
Financial position of banks in Egypt up EGP 96.9bn in July 2020: CBE
Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn
EJB calls on CBE to accelerate digital transformation in Egypt’s financial sector
Makhlouf said that the academic curriculum in many Egyptian colleges should be developed, alongside a set of laws and legislations related to digital transformation. This would then ease the removal of all trade obstacles hindering entrepreneurs and small- and medium-sized enterprises (SMEs).
MSME financing increases EGP 201.7bn between December 2015, June 2020: CBE
Cairo received lion’s share of MSME financing at 31.4%, followed by Giza at 15.5%
90% of Egypt’s foreign debts are long-term: CBE
At 33.5% of GDP, debt levels are within safe limits compared to 48.7% in Latin America and Caribbean, 47.5% in Middle East, Central Asia
EMs see rising capital inflows since May 2020: CBE
Monetary, financial stimulus policies and structural reforms alleviate pandemic’s consequences on neediest segments, support post-pandemic economic recovery
Egypt’s annual core inflation hits 3.3% in September 2020: CBE
In a report released on Sunday, the CBE revealed that the monthly core consumer prices recorded a monthly rate of 0.1% in September 2020, against -0.2% in August 2020, and -2.3% in September 2019.
CBE establishes EgyCash for technological cash solutions
CBE contributes up to 35% of new company’s capital, while NBE, Banque Misr, and Banque du Caire own remaining share
CBE eases bank account opening procedures for individuals, small enterprises
New rules allow banks to expand customer base, help them implement financial inclusion plan, and integrate informal economy into formal one, bankers say
FX foreign currencies reserves up by $221m in September: CBE
The value of the gold balance included in the detailed data on reserve balances decreased by $159m to about $4.361bn during September 2020, compared to about $4.520bn in August.
CBE simplifies bank account opening for individuals, micro enterprises
The move took place in cooperation with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU).
Local currency deposits with Egypt banks up EGP 80.104bn in August: CBE
In a recent report, the CBE stated that demand deposits in local currency also increased by EGP 18.829bn to EGP 507.804bn in August, compared to EGP 488.975bn in July.
Egypt’s market interest rates slightly decline despite CBE’s 0.5% cut
Returns on debt instruments also see minor decreases
Egypt reports $69.96bn in foreign trade during 9M of FY 2019/20: CBE
Country’s imports recorded $49.012bn, while exports reached $20.953bn in same period
CBE reveals bank performance indicators for H1 2020
Banking sector deposits rise to about EGP 4.7trn, financial position of banks jumps to EGP 6.408trn by end of June 2020
CBE expected to keep interest rates on hold Thursday
NBE, Banque Misr decision to halt 15% certificates and reduction of NIB A and B certificate returns unlikely to affect MPC decision
Bank profits reach EGP 50.049bn in June: CBE
Total financial position of banks working in Egyptian market rises to EGP 6.408trn
CBE extends fees waiver on ATM cash withdrawals, bank transfers to year-end
CBE to bear EGP 50m of pension withdrawal expenses until 2020-end
Banks explore repayment options of deferred loan instalments during COVID-19
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
CBE directs banks to take appropriate measures on deferred loan instalments
Each bank must conduct careful review of existing credit facilities, and their customers’ future cash flows, to determine appropriate measures in this matter
Egypt’s net international reserves grow $51m in August to $38.366bn: CBE
Suez Canal revenues, tourism, exports, foreign investments, and remittances are most important resources for Egypt’s foreign currency reserves
Egypt’s external debt decreases to $111.3bn in March 2020: CBE
Bank deposits up by EGP 84.837bn, loans rise by EGP 42.409bn
CBE receives 35 offers to invest €705.3m in local T-bill auction
Thirty offers have been accepted at value of €605.3m
CBE reveals reasons behind July inflation decline
Annual headline urban inflation declines to 4.2% in July, from 5.6% in June 2020
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.