Latest in Tag: The Central Bank of Egypt Highlight
Latest in Tag: The Central Bank of Egypt
The CBE added that issuing the prepaid cards to citizens will be free of charge for a period of six months, provided that the cards are contactless, if a bank starts issuing this type of cards.
Country’s net international reserves reach $45.51bn in February, compared to January’s $45.457bn: CBE
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Remittances increased to $9bn in July-October 2019
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
Tourism is a major and important pillar for the national economy: CBE
Committee membership includes Negm, Aboul Naga, Omran, El Araby, and El Ahwany
Growing value of gold reserves pushes FX reserves to its highest level at 2019-end
New board includes financial, legal, technological and economic expertise alongside the governor, deputies
The CBE decided to keep the maximum for personal housing loans at 40% of the total monthly income.
Bank to exempt pre-2011 defaulters in tourism sector from marginal interests on their loans
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
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
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.
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
Subscribers reach 13.5 million by end-June, with a total value of transactions of EGP 20bn as of September
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts