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The loans will be allocated for the purchase of machines and equipment to expand production capacity, and will have a decreasing interest rate initially set at 7%
Actual value of imports amounts to approximately $90bn, in addition to smuggled goods worth approximately $9.6bn, says Amer
According to the CBE, this decision came in light of the discount made on transactions conducted at local POS in foreign currency at some commercial centres, through credit cards issued in local currency from local banks
Investment Ministry and EFSA form joint committee to reduce fees for listing companies’ in EGX, says Salman
The central bank awaits the Chinese loan and the first portion of the World Bank loan to reinforce reserves
This decision will help companies boost their sales, particularly after they faced a decline last year, due to the lack of dollar availability.
EGPC resorts to petroleum contracts with payment facilities to resolve dollar crisis, says official
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
The list of accredited consulting firms at CBE includes 81 institutions, among which there are only two banks; the Housing and Development Bank (HDB) and IDBE.
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves
During its extraordinary meeting, council will review programme to support economy that was agreed upon between government and CBE on 17 December
The Coordinating Council will discuss the CBE’s alternatives on 10 January, and decide on raising the maximum level of depositing in foreign currency
The Central Bank of Egypt (CBE) announced Wednesday that the Balance of Payments (BOP) registered a deficit of approximately $3.7bn in the first quarter (Q1) of this fiscal year (FY) 2015/2016 compared to a surplus of approximately $410m during the same period in FY 2014/2015. BOP addresses Egypt’s economic transactions with the international market. CBE …
We work to protect the domestic industry and ensure its competitiveness against foreign products, says CBE
Regulating exchange market is at the top of the new board’s priorities, says Ismail Hassan
New decision by the bank lists rice among the commodities that should be exported through Egyptian banks
NBE and Banque Misr provided $800m in the past few days to release goods in ports, says El-Sewedy
Tarek Amer holds frequent meetings with public bank heads to discuss developments in the foreign exchange market and to solve the problems they face
Parallel market confusion amid the decline of the dollar in anticipation of new CBE governor’s decisions
A study by Pharos cited the newly-appointed governor’s past experiences as a basis to predict further devaluation
Annual Egyptian imports are less than $80bn, of which luxury imports are $500m
CBE issued an important Financial Soundness Indicators report; loans to deposits ratio boosted to 41.4%
The pound is expected to officially jump to EGP 8.30 before May 2016, says Dcode
Market awaits CBE’s next step; analysts believe July’s stability will be repeated
According to CBE, the total deposits growth rate of banks in July was about 18.5%. The growth rate of deposits in EGP amounted to about 19.5%, while the growth rate of foreign currency was 14.1%.
Price reaches EGP 8.40 in black market, which is in complete paralysis in anticipation of the central bank’s next steps
Government forecasts on the deficit will not be achieved and will jump to 10.2%, and debt allocations will increase further, says Farid
The rate of banknote issuance reached about 15.06% of GDP in June 2014, marking its highest level in the last four years, while it registered its lowest level in November 2014 when it recorded 12.17% of GDP.