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CBE raises banks’ reserve requirement

The Central Bank of Egypt (CBE) decided to raise the reserve requirement ratio of banks from 10% to 14%. The bank announced on Tuesday that this resolution will be applied starting 10 October. The CBE had maintained the reserve requirement ratio at 14% since 2001 until 2012, which was reduced gradually after the 25 January …

Mohamed Samir

Egypt’s MPC maintains policy rates as forecasted by CI Captial

The Central Bank of Egypt (CBE) decided to keep its overnight deposit and lending rates at 14.75% and 15.75% respectively, while the CBE’s main operations and discount rates were both kept unchanged at 15.25%. According to CI Capital, the CBE’s decision to keep policy rates unchanged following the 0.25% hike by the Federal Reserve System …

Daily News Egypt

CBE refutes rumours on changing banknote designs

The Central Bank of Egypt (CBE) denied rumours that it plans to change the design of Egyptian banknotes. Rumours have spread on social media platforms and some news websites that the CBE launched a competition among volunteers to create new designs for Egypt’s banknotes. The CBE said in a press release that it did not …

Hossam Mounir