Latest in Tag: Central Bank of Egypt Highlight
Latest in Tag: Central Bank of Egypt
Bank calls upon dealers in Egyptian market to be very careful, not to engage in high-risk informal currencies
Facilities will be provided for small companies to open accounts
Main factor affecting direction of interest rates on Egyptian pound is inflation situation during coming period, says Mohamed Abdel-Aal
FX reserves increase by about $363m to $35.905bn in February
New amendment stipulates that initiative would end after exhausting amount allocated or by June 2021, whichever is closer
Vegetable prices fell by 23.6% for second consecutive month
Customer deposits break EGP 5trn mark for first time in local market
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020
Meeting came as 1st phase of projects begin with investment of $325-390m
In its last meeting for 2020, Bank decided to maintain deposit and lending rates at 8.25% and 9.25%, respectively
Household sector added EGP 643.108bn in local currency deposits during 2020
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020
Decision aims to maintain banking sector’s integrity, take proactive steps to meet potential risks, say bankers
The Central Bank of Egypt (CBE) Governor, Tarek Amer, has held a high-level ministerial meeting to discuss methods of supporting the tourism sector during the novel coronavirus (COVID-19) pandemic.
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
Long-term dues account for 90.2% of country’s total external debt
Outlook for near term growth in global economic activity expected to be affected by second COVID-19 wave, preventive measures
Intra bank transfers to be carried out in 2 hours, while interbank transfers in 3 hours
FX reserves increase by about $364m to $35.399bn in December
The Central Bank of Egypt (CBE) has issued new instructions regarding the management of operation risks at banks working in the Egyptian market. The CBE also said that it is continuously following up on and applying international practices in the field of banking supervision in the Egyptian banking system. This takes place by regular observation …
According to the central bank imitative loan period ranges from seven to 10 years, with the repayment to be made in equal monthly instalments
The Central Bank of Egypt (CBE) has announced it has received 35 offers worth $1.0511bn from local and foreign investors, to cover a US dollar-denominated Treasury bills (T-bills) auction.
The Central Bank of Egypt (CBE) has decided to extend its initiatives to support defaulters, whether individuals or tourism companies, for a further six months.
The Central Bank of Egypt (CBE) will issue, on Monday, a tender for one-year US dollar-denominated Treasury bills (T-bills), worth $850m, due on 4 January 2022.
Banking sector has witnessed high financial stability in past years, allowing it to deal with many crises, contain their repercussions
Egyptian economy contained reversal in portfolio investment flows thanks to its relatively stable foreign currency sources and large net foreign reserve
Extension reflects CBE’s keenness to protect national economy, preserve gains of reform
Central bank to continue using monetary policy tools to control inflation expectations, and to containing inflationary pressures from the demand side
Central Bank of Egypt new inflation target has been set at 7% (±2%) on average in the fourth quarter of 2022