The Banking Industry and Future of Financial Services Forum started its activities on Friday Sharm El Sheikh, held under the auspices of the Central Bank of Egypt (CBE), the three-day event is organized by the Union of Arab Banks (UAB).
As many as (...)
Four Egyptian banks have decided to slash interest rates on Aman certificates from 16 percent to 13 percent .
The four banks are National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Agriculture Bank of Egypt (ABE). The Aman (...)
Egypt's domestic liquidity continued to increase, registering a new record of $4.757 trillion in September, up by 1.6% from $4.682 trillion in August.
Year-on-year, local liquidity grew by 18.6% from $4.01 trillion in September 2019, according to (...)
Al Ahly Capital Holding, the private equity arm of Egypt's state-owned National Bank of Egypt (NBE) said on Thursday it had bought a 94.5 percent stake in privately-owned El Nada Hospital Zayed.
Opened in 2018, El Nada Hospital Zayed is part of El (...)
Raseedy has officially launched the first independent licensed digital wallet in Egypt, in partnership with saib Bank and Mastercard.
Raseedy, established by Jacques Marco and Karl Marco as an Egyptian joint-stock company in 2018, has now launched (...)
Remittances from Egyptian expatriates hiked 10.4 percent during the fiscal year of 2019/2020 to reach $27.8 billion, recording its highest record ever, compared to $25.2 billion during the fiscal year of 2018/2019, according to the Central Bank of (...)
Egypt attracted foreign cash inflows worth $324 million on Sunday, according to a banking source.
Foreign investments in Egypt have seen a remarkable increase of late, surpassing all other emerging markets, thanks to the growing investor confidence (...)
Egypt's external debt rose 14.8 percent to $123.5 billion in the year to end-June, central bank data showed on Monday.
The external debt was $108.7 billion at the end of June 2019.
Long-term debt also increased to $112.6 billion at the end of June (...)
The total financial position of banks operating in the Egyptian market, except for the Central Bank of Egypt (CBE), increased by 96.9 billion Egyptian pounds or 1.5 percent month-on-month (MoM) to 6.5 trillion pounds at the end of last July, (...)
The Central Bank of Egypt (CBE) announced that loans and credit facilities provided to micro-, small-, and medium-sized enterprises (MSMEs) increased by 201.7 billion Egyptian pounds from December 2015 until last June.
More than 1.061 million MSMEs (...)
Egypt's central bank has streamlined procedures for opening bank accounts in collaboration with the Money Laundering and Terrorist Financing Combating Unit.
This move will allow banks to be more flexible with customers in a bid to promote financial (...)
National Bank of Egypt (NBE) approved the provision of a bridge loan worth 300 million Egyptian pounds to Maxim Real Estate Investment (MREI) to finance Bo Islands project on the North Coast.
The syndicated loan has been arranged by a number of (...)
Egypt's two biggest state-owned banks, National Bank of Egypt and Banque Misr, have collected 383 billion Egyptian pounds ($24 billion) from a new high-yield savings product they introduced in March.
NBE announced that it would stop issuing the (...)
The Central Bank of Egypt (CBE) has decided not to extend the suspension of all due payments on loans for another six months, according to a circular the CBE sent to all banks on Monday.
Banks will begin the process of collecting monthly (...)
Egypt's annual inflation rate is expected to average around 6.2 percent during the fourth quarter of 2020, CBE Governor Tarek Amer said at a cabinet meeting
Amer noted that inflation has held steady within the single-digit range since June 2019 and (...)
State-owned banks National Bank of Egypt (NBE) and Banque Misr have signed a strategic partnership with a subsidiary of Talaat Mostafa Group (TMG), the company announced in a statement on Sunday.
According to chief executive Hisham Talaat Moustafa, (...)
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided fix interest rates for the fourth meeting in row with the overnight deposit rate 9.25 percent.
The overnight deposit rate, overnight lending rate, and the rate of the (...)
The European Bank for Reconstruction and Development (EBRD) has approved a $100 million financing package for the Banque Misr to help SMEs.
The financing package is designed to support small and medium-sized businesses in the North African (...)
Gold reserves in Egypt increased by $429 million or 10.5% to a new record of $4.505 billion in July, compared to $4.076 billion in June, according to data released by the Central Bank of Egypt (CBE)
Over the first seven months of 2020, the country's (...)
National Bank of Egypt, a state-owned bank, agreed to arrange a bridge loan along with Qatar National bank for Universal Group as part of in the framework of the Central Bank of Egypt initiative to support industrial activity.
The loan is to provide (...)
Four banks, the largest in Egypt, are joining the country's consumer-spending initiative, which will provide customers with a wide range of goods at discounts ranging between 15-25 percent.
The National Bank of Egypt (NBE), Banque Misr, Banque du (...)
The National Bank of Egypt (NBE), the country's biggest state lender, as lead arranger of Egypt's largest securitized bond offering of 10 billion Egyptian pounds, announced the closure of the transaction backed by a portfolio owned by the New Urban (...)
The Central Bank of Egypt (CBE) issues circular to banks to clarify measures to unblock assets frozen due to tax disputes.
Cabinet's decision to allow taxpayers to make 1 percent down payments to unblock holdings that were frozen by the Tax (...)
Foreign investments in treasury bills (T-bills) declined to $7.016 billion at the end of May 2020, compared to $7.4 billion at the end of April 2020, according to the Central Bank of Egypt (CBE).
CBE clarified that foreign investments in T-bills (...)
Egypt's domestic liquidity grew by 12.7 percent recording 4.489 billion Egyptian pounds from July 2019 to the end of last April to reach 4.353 trillion pounds.
The increase in domestic liquidity was reflected in the growth of quasi-money by 356.9 (...)