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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.
CBE issues EGP 100bn stimulation for private sector borrowing: Amer
Initiatives are to help Egypt’s economy overcome ongoing pandemic
April inflation increased due to unfavourable base effects: CBE
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE takes measures to reduce economic impacts of COVID-19
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
CBE expands EGP 100bn initiative to contracting companies
The initiative had initially been set up to provide finance to private sector companies in the manufacturing and agriculture sectors with sales of EGP 50m.
Cairo Chamber of Commerce calls for adding commercial, service sectors in CBE’s 5% interest loans
Move is to protect commercial sector and allow it to fulfil obligations
HC expects CBE to preserve current rates at upcoming meeting
Doss added, “Less working hours have also disrupted production activity possibly leading to relative supply shortages of some goods also posing inflationary pressures.”
CBE considers engaging contracting sector in EGP 100bn initiative
Abdel Raouf added that attention must be paid to distributing the funds equally to all contracting sectors companies, regardless of their size.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted