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

Floating the Egyptian pound is an excellent step: Naguib Sawiris

Sawiris called on the Egyptian people to support the CBE's decision

Daily News Egypt

CBE floats Egyptian pound, raises interest by 3%

The CBE decided on Thursday to let banks in the market set…

Hossam Mounir

CBE consideres obliging banks to not accept foreign currency from anonymous sources

The move aims to lay siege to the informal market and crack…

Hossam Mounir

Egyptian pound devaluation could cause heavy losses for customers with open currency position  

Importers of medicines and commodities priced upon the US dollar’s official rate…

Hossam Mounir

CBE stabilises Egyptian pound’s price against US dollar, ignores market’s expectations again

Analysts ruled out Egyptian pound’s devaluation before 11 November

Hossam Mounir

Emirates NBD launches specialised unit for financing SMEs in Egypt

Emirates NBD announced the establishment of a specialised unit for financing small-…

Hossam Mounir

33 banks offer investments worth EGP 278.85bn in CBE’s deposit operation

Thirty-three banks operating in the domestic market offered investments worth EGP 278.85bn…

Hossam Mounir

State banks boost their investment in treasury bills by EGP 13.8bn in July: CBE

Banking sector accounts for 77% of total outstanding balances of bills

Hossam Mounir

Household sector accounts for 62.8% of total deposits at banks in July

This sector’s deposits increased by EGP 8.849bn and EGP 2.729bn in foreign…

Hossam Mounir