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International institutions acquired 30.7% of Egypt’s debts by end-June 2018
Debts to Arab countries reached $23.1bn or 24.9% of total external debts: CBE
Business community calls on CBE to more cuts in interest rates
Decision to cut interest rates by 1% is good, yet values still relatively high, say investment experts
Banks to discuss fate of deposit, lending interests this week following CBE rate cut
NBE, Banque Misr to keep interests of fixed-rate saving certificates stable, cut those of variable-rate certificates by 1%
Video: CBE interest rate cuts in the eyes of Moody’s
Interest rates reduction decision by CBE is bold, revives investments in all sectors: Beltone
Decision will pave way for new reduction in interest rates in H1 2019
CBE cuts interest rates by 1%
Overnight deposit rate, overnight lending rate, rate of the main operation at 15.75% 16.75%, 16.25% respectively
IDB signs cooperation protocol with Alexandria governorate, MFF to fund social housing units
Agreement to fund 1,138 residential units within CBE initiative
CBE to review interest rates today in first 2019 meeting
Higher inflation in January shifts market expectations of interest stabilisation in this meeting
Nile Pioneer initiative officially begins on Sunday, sponsored by CBE
Establishing 30 business development centres under initiative during current year in 16 governorates
Egyptian banks increase their SME credit by EGP 136bn in 3 years
Egyptian banks increased their SMEs credit by EGP 136bn from end-2015 till end-2018, benefiting about 522,000 foundations, Gamal Negm, deputy governor of the Central Bank of Egypt (CBE), said on Tuesday. The banking sector allocated 65% of its loans to the private sector, Negm said before an IMF conference on its paper about Financial Inclusion …
Egypt’s bank deposits up by 15.3% end-November 2018: CBE
Deposits in EGP increase by 16.9%, foreign currencies deposits grow by 9.4%
Amer to chair AACB’s meetings in March
Meetings will include preparations for AACB’s continental seminar to be held in cooperation with CBE
CBE to cut interest rate in March: Deutsche Bank
The Central Bank of Egypt (CBE) will cut interest rates next March, Deutsche Bank said in a research note. The bank also forecasts that the CBE is inclined to cut interest rates by 100 basis points next March, Enterprise reported. Deutsche Bank also expects that the CBE will keep interest rates unchanged in the first …
CBE limits mortgage initiative to low-income after earmarked EGP 20bn runs out
NBE, HDB, Banque Misr, Banque du Caire, IDB top list of banks participating in CBE initiative with total funding of EGP 15.7bn to 165,800 clients
Remittances of Egyptian expats reach $23.3bn in 11M18: CBE
Increase of 5.7% in remittances compared to same period in 2017
Price of US dollar against pound nearly stable on Tuesday after two-day decline
US currency recovers less than half piaster of 30 piasters it lost on Sunday, Monday
Dollar value falls by over EGP 0.22, biggest decline in 9 months
American currency supply increases in interbank market amid resumption of foreign investment in government debt instruments
CBE to finalise study for establishment of exports guarantee firm in Q1 2019
Bank considers granting licenses to international banks, fully coordinates with government to achieve SDGs, says CBE deputy governor
Gold value listed in FX reserves growth curbs reserves decline in December 2018
FX reserves gold value increased by $104m, foreign currencies down by $2.068bn
Egypt’s economic outlook remains positive, backed by tourism, natural gas: Credit Suisse
Weak FDI, reliance on hot money, inflation still challenging
International, local financial institutions offer to invest $934.1m in Egyptian T-bills
Interest rate accepted by CBE grew to maximum of 3.8%, minimum of 3.78%, averaging 3.797%
Egypt’s foreign reserves down to 42.551bn in December: CBE
Egypt’s foreign currency reserves fell to $42.551bn in December, down from a peak of $44.513bn in November, the Central Bank of Egypt announced on Monday. Net foreign reserves has been on an upward path, since Egypt signed a $12bn, three-year IMF loan in November 2016, and the adoption of the country’s ambitious economic reform programme. …
Foreign assets deficit continues to widen in banks
Exit of foreign capital from emerging economies trailed in October at slower pace since April 2018: CBE
Credit facilities granted by banks to their clients increased by EGP 25.3bn in October
Private business sector covered for 61% of total credit facilities, industries among top beneficiaries: CBE
Government-owned, private banks reduce investments in T-bills by EGP 31.2bn in November 2018: CBE
Foreign banks working in Egypt take different stance, increase investments by EGP 3.87bn, against foreign investors’ direction since April 2018
CBE’s sets inflation target at 9% on average during Q4 of 2020
Core inflation slipped to 7.9% in November from 8.9% in October 2018, listing lowest rate since February 2016
CBE to review interest rates on Thursday as 2018 meetings conclude
Strong hopes rates to remain stable for 6th consecutive time; 16.75% for deposit;17.75% for lending; 17.25% for credit, discount
CBE unlikely to extend initiative to settle bad debts
Weak turnout by defaulters, 6 months enough for those who want to settle their debts: prominent banker
CBE reviews initiative to settle troubled debts: Amer
Initiative includes settlement of debts of 3,500 companies, 337,000 individuals
CBE extends initiative to support tourism sector until end-December 2019
The Central Bank of Egypt’s (CBE) board of directors decided to extend its initiative to support the tourism sector until the end of December 2019. According to the CBE, during this period all applications to postpone dues to banks will be accepted for a period up to three years. The CBE has launched this initiative …