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Deposits up by EGP 1bn only as non-governmental deposits drop
The state’s household debt to the GDP slightly decreased to 7.2% in Q1 of 2019, compared to 7.4% in the same period of 2018, the report added.
Direction of capital flows depends on outlook for economic activity rate of growth, development of global trade tensions
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Bank accounts for 7.82% of loans, 5.17% of deposits in Egyptian banks by end-March 2019
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
FX reserves increased to $44.352bn end of May: CBE
New electricity, fuel prices will hike monthly inflation: Saada
The CBE revealed that the current account deficit registered $7.6bn and the capital and financial account unfolded a net inflow of $7.8bn in the reporting period.
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
A mini committee was formed including representatives of the CBE, banks operating in the Egyptian market, and real estate developers to discuss mechanism of the rules of facilitating mortgage finance.
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
Expectations for US dollar to reach EGP 16.5
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …
CBE accepts 23 offers worth $1bn with 3.85-3.9% interest
Proposals include activating bonds market maker, allocating share of dealers to secondary trade, share for brokering companies
Municipalities in Egypt should have clear detailed budgets first to be qualified for issuing bonds
The United Bank of Egypt will be sold to a major US investment fund within three months, the Central Bank of Egypt’s (CBE) Governor Tarek Amer revealed on Monday. Amer told Daily News Egypt that the CBE will retain a stake in the bank, without revealing the size of this stake. The CBE owns 99.9% …
US dollar loses 2 more piasters on Sunday to take losses to 75 piasters since mid-January 2019
All bodies subject to this law shall comply with its provisions within six months from imposing its regulations
Banking sector representatives express their appetite on financing real estate
January 2019 saw return of capital to EM since exodus in February 2018