The US and China are Egypt’s largest trading partners, the UAE is the third largest
Latest by Hossam Mounir
The bank aims to finalise bad debts portfolio, spread its branches and services throughout the republic
According to CBE, foreign investors were the second largest investors in Egyptian treasury bills, following public banks, before January Revolution.
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December
Foreign investment in government debt instruments is too little compared to before the January 2011 Revolution
EU countries acquired 33.5% of total Egyptian exports by end of Q3 of FY 2014/2015
The total facilities granted to the government by banks until the end of June rose by EGP 25.619bn to EGP 66.421bn, compared to EGP 40.802bn at the end of June 2014.
21% increase in loans and bank deposits until end of June 2015, over 50% increase in profits, says El-Etreby
El-Etreby added that the FEB has adopted an initiative under the name of “You must have a bank”, with support from the Central Bank of Egypt (CBE)
Movement of funds across the border is uncontrolled, there is no international law to regulate this process
The UAB also urged decision-makers in Arab countries to achieve harmony between strategies pertaining to small and medium-sized enterprise (SME) development, financial inclusion, education, and employment, to promote and support financial inclusion as a strategic objective for financial and social stability in the Arab region.
Study aims to identify the reasons of financial exclusion, as well as to reach a national strategy to apply the concept of financial inclusion, says Mai Abol Naga
“The MPC decision was highly expected in light of CBE’s keenness to activate investment, move the economy and not to increase the burdens of local debt,” said Haitham Abdel Fattah
Only 18% of the residents in the Arab region have accounts in financial institutions, compared to 43% in developing countries generally, and 24% in the sub-Sahara African countries, said Mohamed Barakat, Chairman of the Union of Arab Banks (UAB). Barakat said international attention to financial inclusion stared on 29 December 2003, when the then-Secretary General …
The Central Bank of Egypt (CBE) is currently studying creating a guideline directory to support banks wishing to get into micro-finance activities, said Tarek El Kholy, Deputy Governor for Risk Management and Banking Supervision at CBE. El Kholy pointed at the CBE’s attention to micro-finance activity because of its great role in applying the concept …
The number of banking consumers in Egypt ranges between 10 million to 11 million persons, against about 54 million citizens who have the right to vote, said Mohamed El-Etreby, Chairman of Banque Misr and member of the Federation Of Egyptian Banks (FEB). El-Etreby added that financial inclusion is no longer optional, but rather a necessity …
Visit comes to support Egypt in reaching financial inclusion
The conference, hosted in Sharm El-Sheikh, is being held in cooperation with the Central Bank of Egypt (CBE) and the Federation of Egyptian Banks (FEB).
Unlikely for CBE to raise its interest rates on the pound, according to IDBE treasury director-general
I expect the real estate market to achieve high growth rates in the next period, says Helmy
The bank is able to face all challenges in spite of unfavourable circumstances over the last four years
It is expected that the Arab executive directors at the International Monetary Fund (IMF), and the World Bank (WB) are attending the event, in addition to the Union of Arab Banks, and the Union of Arab Securities Authorities
Government reshuffle was strongly demanded by numerous bankers
These bonds were introduced during the period 15 November 2005 to 11 August 2015, with interest rates ranges between 8.6% and 17%.
Plans to increase bank’s share in Egyptian market and open 7 new branches every year to 2017
The bank added that its branches in both the UAE and France also sent the files to the central banks in these countries on time.
The CBE could help banks do both if provided with sufficient liquidity, says former governor
Optimism about future is based on existence of determined administration to change and meet challenges
Plans to double issued capital to EGP 100m by H1 of 2016
Egyptian economy is on the right track, invest now before you miss the chance, says Tinawi