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Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
The initiative is expected to be announced next Wednesday
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.
277,000 customers in 15 banks and eight mortgage finance companies are to benefit from the service when fully implemented
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
Amer, whose term ends this week, was appointed in 2015, succeeding former governor Hisham Ramez.
According to the CBE’s Sunday statement, they selected the duo out of five investment banks that were bidding for the role.
CBE accepts $1.56bn worth offers from 33 investors with interests ranging between 3.55-3.6%
Government, investors, and EGX are the most beneficiaries from the decision, while bank depositors are the most harmed
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.
Beltone foresees inflation averaging 4.8% in 4Q19
Headline inflation continued to decelerate for the fourth consecutive month from its high level back in May, says economist.
It’s the highest foreign exchange reserves in Egypt’s history, covering more than eight months of commodity imports.
Banks issued 3.5m Meeza cards until end-October, says CBE Deputy Governor
Remittances of Egyptians working abroad are one of Egypt’s most important foreign exchange resources.
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s imports scored $66.529bn, while exports reached $28.495bn between July 2018 and June 2019
CBE to keep rates on hold in November, December
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
This step after low inflation leads to an increase in money supply by about EGP 70bn
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
13% of short-term debts are deposits from Arab countries that are renewed every four years
Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks
New law reinforces the independence of the CBE and banks’ boards of directors, prepares Egyptian market for a new era in financial technology
We need to study the reasons for the high BOP deficit, especially in exports and FDI, says Abdel Aal
Experts argue security stability is key behind hike in tourism, Sultan forecast sector to achieve $15bn by FY-end
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
BOP records 0.1bn deficits, oil trade balance records $8.1m surplus, FDI net inflows decrease by $1.8bn to $5.9bn
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
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.