Latest in Highlight
Latest in
Amer starts second term in CBE by launching three initiatives to support industry, medium income housing
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
Egypt’s FX reserves increase by $319m in November
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
Egypt’s government, CBE prepare to launch manufacturing support initiative
The initiative is expected to be announced next Wednesday
CBE to offer $1.56bn worth T-Bills in auction Monday
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.
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s external debt jumps to $108.bn end-June: CBE
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Banks allocate EGP 122bn to face doubtful debts until June 2019: CBE
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
CBE authorises 28 banks to provide mobile payment services in Egypt: Amer
Subscribers reach 13.5 million by end-June, with a total value of transactions of EGP 20bn as of September
Economists unanimously believe CBE will cut interest rates on Thursday
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Bank deposits up by EGP 95.471bn recording EGP 4.007tr in June
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic public debt records EGP 4.205tr in end-March
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
Egypt’s core inflation falls to 6-year low of 4.9% in August
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
Net foreign reserves up $52.1m to $44.969bn end-August
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m
GDP growth rate to continue moving onwards and upwards: CBE
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
CBE slashes interest rates by 1.5%
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
CBE to consider interest rates on Thursday amid expectations of cuts
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
CBE issues import, export standards on foreign banknotes surplus
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
Egypt’s net foreign reserves rose by $565m to $44.916bn end-July
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
CONIA interest rate benchmark comes into force
New standard reinforces CBE’s ability to improve monetary policy
CBE reveals Egypt’s economy external position
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Egypt’s external debt reaches 35.1% of GDP at end-2018, but still within safe limits: CBE
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Bank deposit growth slows to 11.46% in April from 11.85% in March
DNE sheds light on key performance indicators of banks operating in local market in April 2019
EBRD, CBE discuss offering new banking products for Egypt’s private sector
Locally operating banks receive 25% of EBRD funding portfolio in Egypt, says EBRD’s VP for Banking
Foreign investments in Egyptian T-bills up by EGP 10.8bn in May 2019
Foreign investment in T-Bills reached about $11bn before 25 January 2011, but fell to less than $25m as of 2016.
CBE to discuss interest rates on Thursday
Expected rise in inflation means CBE likely to keep interest rates unchanged for 3rd time in 2019
CBE launches service for instant bank account inquiry of deceased customers
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
CBE launches risk insurance company for exports to Africa before year-end
El-Shaarawy told Daily News Egypt that the bank is currently completing the regulatory and structural framework of the company, determining shareholders’ stakes, and the CBE’s contribution in the company.
CBE encourages banks to invest in funds for emerging small businesses
Decision comes complementary to previous efforts by CBE to support MSMEs, says Negm
US dollar continues decline below EGP 17 for first time in two years: CBE
The average price of US dollar in banks reached EGP 16.99 for buying and EGP 17.09 for selling, according to the CBE
Pound appreciated 84 piasters since beginning of 2019: CBE
US currency is approaching EGP 17 against pound, as foreign exchange flows increase in Egypt