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

Egyptian remittances score $10.4bn from July-November 2017: CBE

Egyptians' remittances recorded about $2.2bn in November 2017, compared to $2.1bn in…

Hossam Mounir

CBE opens account to collect change from checks, remittances, directs them to development projects

CBE called on banks to transfer change to main account at end…

Hossam Mounir

CBE warns against dealing in Bitcoin

Cryptocurrencies lack guarantee and official government support as opposed to official currencies:…

Hossam Mounir

Local, foreign financial institutions offer to invest $1.054bn in USD T-Bills

Interest rate highest at 3.35%, lowest at 3.32%, averaging 3.346%

Hossam Mounir

Banque Misr receives the Mohammed bin Rashid Award for Young Business Leaders

Bank injects EGP 2.2bn to fund 48,392 micro enterprises in 32 months

Hossam Mounir

CBE offers treasury bills worth $7850m

Tender proceeds to cover previous tender on 10 January 2017 worth $888.8m

Hossam Mounir

FX reserves end 2017 at record high of $37.02bn

Forex reserves increased by $333m, despite payment of $3.2bn to Afreximbank, says…

Hossam Mounir

NBE aims to increase size of SME portfolio to EGP 100bn within 3 years 

The bank offered SME loans worth about EGP 37.5bn to 55,000 customers

Hossam Mounir

NBE, Agriculture Ministry cooperate to finance livestock projects

Bank injected EGP 1.2bn to fund 7,400 livestock, poultry, fishery development projects 

Hossam Mounir

HDB aims to open 20 new branches in 2018: El-Sebaey

Bank added 10 branches in 2017, targets 100 branches

Daily News Egypt