EGP 735.59bn bank investments in T-bills by end-December 2018: CBE
Banks supported their securities portfolio with EGP 202.23bn in 2018
Hossam Mounir
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Nine private, foreign banks in Egypt gain net profits of EGP 25.80bn in 2018
Five banks only earn billions in net profits, other banks acquired under EGP 1bn each
NBE allocates EGP 123m to legalise situation of Shaq El Teaban investors
Bank studies 300 applications seeking to obtain facilities
CBE governor calls for enhancing independence of central banks in Africa
During meeting of Association of African Central Banks in Dakar
Banque du Caire opens regional office in UAE for Gulf customers
Enhancing bank’s existence abroad one of our top priorities, says Fayed
Beltone Financial expects another interest rate cut in next CBE meeting
Increase in inflation readings does not affect our forecast for inflationary pressures in 1H19, says research note
Annual inflation rates increase 1.7% to reach 13.9% in February 2019: CAPMAS
Vegetables, poultry, milk, cheese, eggs push monthly inflation to 1.8% in February compared to 0.8% in
January
Banks start issuing free e-wallets on International Women’s Day, Arab Financial Inclusion Day
CBE aims to encourage more people to join official banking system, says Elkosayer
Women account for 51% of total projects funded by MSMEDA: Chairperson
Agency injected funding worth EGP 45.8bn since its launch in 1992 until end-January ‘19
US dollar hits its lowest in two years
US currency lost 8.11 piasters last week, losing 49 piasters since January 2019
CBE excludes beans, rice, lentils from monetary insurance required for import
The Central Bank of Egypt (CBE) issued on Thursday new directives regarding the controls of import processes that take place through banks. The CBE has allowed banks to exclude beans, rice, and lentils from the monetary coverage required for import processes-which is estimated to be 100% of the volume of these processes-for trade purposes, for …
Fate of inked banknotes remains vague
Rumours of banning banknotes with handwritings on them, banks deny, CBE silent
CBE imposes sanctions on 28 currency exchange companies in 2018
Procedure came as result of violations to CBE’s regulations, conditions
Attijariwafa Bank, Global Lease sign SME support protocol
Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services. Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral …
CBE approves issuing EGP 870.3m worth ‘Aman’ certificates
NBE, Banque Misr, Banque du Caire, ABE started offering certificates in March 2018
$1.44bn increase in foreign reserves to $44.06bn end-February: CBE
The foreign exchange reserves at the CBE have increased by $1.44bn by the end of February 2019, reaching $44.06bn, compared to $42.617bn by end of January 2019. The foreign exchange reserves recorded an all-time high by the end of November 2019, when they reached $44.51bn. The CBE has not revealed the reason behind the increase …
EPG 489.138bn increase in banks’ deposits in 2018: CBE
Government’s deposits hit EGP 391.7bn, family sector deposited 66% of them
EBI implements a development plan to stay up-to-date with new world of training: Executive Director
Development process includes training programmes, methodologies, infrastructure, digital architecture, says Nossier
Foreign investments in T-bills increase by $2.4bn in January
This increase followed nine-month wave of decline
MSMEDA expects $200m, €107m funds to be reinjected into micro, small projects
‘We are anticipating president’s approval on several deals of $200m with World Bank, €50m with AFD, €30m with KfW, €27m with EU,’ says Gamea
MSMEDA cooperates with NGOs to fund microenterprises
Contracts aim to finance 2,790 microenterprises for youth, especially women
Cabinet to present SME draft law to parliament within 10 days
MSMEDA, CBE coordinated to unify their definitions in draft law, says Gamea
MSMEDA injects EGP 2.1bn to implement 236,000 projects in Beheira: chairperson
Agency offered about EGP 250m to finance infrastructure, social development, training projects that provided nearly 39,000 jobs
Limited response from banks to CBE’s decision to cut interest in first week
Banks move interest on variable yield certificates, others cut interest on deposits, savings accounts
CBE sets new controls for mortgage finance initiative for low-income individuals
Mortgage finance will be provided for clients who meet CBE’s conditions
Egypt’s outstanding dollar, euro bonds increase to $23.2bn, €2bn respectively
Maturities of dollar bonds range between 5-30 years, euro bonds between 8-12 years
For first time, CBE instructs banks to protect clients’ rights
Instructions have been in effect since 13 February, banks were given one-year period to adjust their situations
MSMEDA injects EGP 1.9bn loans, grants in Menoufiya, creating 172,000 jobs
Study discussed to provide more jobs for youth in governorate, revive heritage, handicraft industries
CBE pays EGP 114.4bn of interest on Deposit Operation in FY 2017/18
Bank turns from profits of EGP 12.66bn in FY 2016/17 to losses of EGP 33.34bn in FY 2017/18
Yields on Egypt’s T-Bonds down by 0.65-0.89%
Interest rates, accepted by finance ministry, on 3-year bonds fall between 16.4-16.58%, yields on 7-year bonds record 16.74-17.15%