Banking

The latest banking stories from Egypt and across the globe, by the Daily News Egypt banking team, including global insight and commentary on the top issues concerning this sector.
Latest Banking News

CBE issues new regulations for microfinance in banks

Excluding credit portfolios purchased from micro finance companies or associations in 20%…

Hossam Mounir Hossam Mounir

ABE signs cooperation protocol with World Food Programme

It’s part of bank's efforts to support, finance development projects, especially in…

Hossam Mounir Hossam Mounir

Egypt’s new banking draft law: opportunities and challenges

New law reinforces the independence of the CBE and banks’ boards of…

Hossam Mounir Hossam Mounir

Subscription in ATAA charitable fund to start on 5 November: NSB

Subscription ends on 4 January 2020, and can be suspended after 10…

Hossam Mounir Hossam Mounir

Al Baraka Bank, ADIB, and EG Bank most negatively affected by New Banking Act: Prime Holding

Banking act may spur a wave of consolidation amongst smaller or undercapitalised…

Mohamed Samir Mohamed Samir

Settlement on workers’ rights to delay approval of NBG-Egypt sale to Bank Audi

Tripartite meeting of CBE's Legal Advisor, Regional Director, and Legal Affairs Director…

Hossam Mounir Hossam Mounir

NBE arranged syndicated loans worth EGP 28bn during Q3 2019: Bloomberg

Bank arranged a syndicated loan of EGP 1.7bn for Redcon Construction in…

Hossam Mounir Hossam Mounir

Egypt’s net foreign reserves break $45bn, the highest level ever 

We need to study the reasons for the high BOP deficit, especially…

Hossam Mounir Hossam Mounir

Credit facilities by banks fall EGP 35.2bn in July to EGP 1.8trn: CBE

Private sector receives 60.3% of total facilities, industry at the forefront of…

Hossam Mounir Hossam Mounir

Egypt’s current account records $8.2bn deficit in FY 2018/19: CBE

BOP records 0.1bn deficits, oil trade balance records $8.1m surplus, FDI net…

Hossam Mounir Hossam Mounir